§ Mr. Austin Mitchellasked the Chancellor of the Exchequer what was the addition to the central Government borrowing requirement in 1984; and how much this cost in interest payments in 1985.
§ Mr. MacGregorThe central Government borrowing requirement on own account was £6.6 billion in 1984–85. Applying to that borrowing the average of the interest rates applicable in 1985–86 to all new central Government borrowing in 1984–85 (including lending to the rest of the public sector, and the refinance of maturing debt), interest payments in 1985–86 on the £6.6 billion amounted to around £0.6 billion.