HC Deb 13 December 1984 vol 69 c575W
Mr. Freeman

asked the Chancellor of the Exchequer if he will compare the United Kingdom public sector borrowing requirement as a percentage of the gross national product over the past five fiscal years with that of the United States of America on the same statistical basis.

Mr. Peter Rees

Internationally comparable statistics on the public sector borrowing requirement are not available. The available statistics relate to general Government financing. On this basis, the United Kingdom deficit (as a proportion of GDP) fell from 4¼ per cent. to around 3¼ per cent. between 1978 and 1983, whilst the United States balance (as a proportion of GNP) changed from a surplus of ¼ per cent. to a deficit of 4 per cent. over the same period.