HL Deb 11 February 1985 vol 460 cc98-9WA
Lord Diamond

asked Her Majesty's Government:

What is their estimate of the net increase in the nation's financial liabilities in 1984 due to: (a) borrowing in all forms, and (b) unfunded public sector pensions; and the extent to which that increase has been offset by the fall in the real value of public debt due to inflation.

The Earl of Gowrie

The nominal value of public sector debt outstanding at end-March 1984 was £173 billion—some £16 billion higher than a year earlier. Details of the breakdown of public sector debt are scheduled to be published in the February issue ofFinancial Statistics. The real value of outstanding public debt of £173 billion at March 1984 calculated at March 1983 prices was £167 billion, i.e., £6 billion below the nominal figure.

The accrued liability for unfunded public service pension funds is estimated at £125 billion at the end of 1984. The annual accruing cost is estimated at £5 billion.