§ 38. Mr. Ripponasked the Chancellor of the Exchequer what proportion of public expenditure was represented by debt interest in 1973–74 and 1978–79; and what is his estimate for the current financial year.
§ Mr. BrittanDebt interest, on a White Paper basis, as a percentage of public expenditure amounted to around 2 per cent. in 1973–74, 3½ percent. in 1978–79 and 4½ per cent. in 1979–80, the last financial year for which outturn information is available.
An estimate for 1980–81 may be derived from the forthcoming White Paper on public expenditure, and I ask my right hon. and learned Friend to wait until its publication on 10 March.