§ Mr. CousinsTo ask the Chancellor of the Exchequer if he will state for each year from 1970–71 to 1987–88, and estimate for 1988–89 (i) the public sector net debt outstanding at current and 1988 prices, (ii) the net change from the previous year at current and 1988 prices and (iii) the components of the public sector net debt including assets such as foreign exchange reserves for each year both at current and 1988 prices.
§ Mr. Lilley[holding answer 17 April 1989]: The available information is as follows:
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Components of net public sector debt (£ billion) Current prices Net public sector debt1 Gross public sector debt Total Public Sector liquid assets of which Other Gold and foreign exchange Commercial Bills 1974–75 59.5 63.0 3.4 2.5 0.0 0.9 1975–76 71.8 75.8 4.1 3.1 0.1 0.9 1976–77 81.3 88.6 7.3 5.6 0.1 1.6 1977–78 87.9 100.2 12.3 10.9 0.0 1.4 1978–79 95.3 108.5 13.2 10.6 0.3 2.3 1979–80 102.1 117.3 15.2 12.5 0.8 2.0 1980–81 116.5 135.3 18.9 12.6 2.8 3.5 1981–82 127.2 147.2 20.0 10.6 7.0 2.3 1982–83 135.0 156.5 21.5 11.7 6.3 3.6 1983–84 147.3 172.2 24.9 11.6 9.8 3.4 1984–85 160.7 189.7 29.0 11.0 7.2 10.8 1985–86 166.8 197.9 31.1 12.7 8.7 9.7 1986–87 171.1 204.6 33.5 16.9 7.0 9.7 1987–88 171.3 213.4 42.1 25.2 8.3 8.6 1988–89 (forecast) 157.0 — — — — — 1988–89 prices 1974–75 234.0 247.5 13.4 9.8 0.0 3.5 1975–76 224.9 237.3 12.8 9.7 0.3 2.8 1976–77 224.6 244.8 20.2 15.5 0.3 4.4 1977–78 213.5 243.5 29.9 26.5 0.0 3.4 1978–79 208.8 237.7 28.9 23.2 0.7 5.0 1979–80 191.7 220.3 28.6 23.4 1.5 3.7 1980–81 184.6 214.5 29.9 19.9 4.4 5.5 1981–82 183.7 212.5 28.8 15.4 10.2 3.3 1982–83 182.0 211.0 29.0 15.8 8.4 4.8 1983–84 189.8 221.9 32.1 15.0 12.7 4.4 1984–85 197.4 233.0 35.6 13.5 8.8 13.3 1985–86 194.2 230.4 36.2 14.8 10.1 11.3 1986–87 192.7 230.4 37.8 19.0 7.9 10.9 1987–88 183.7 228.9 45.2 27.0 8.9 9.2 1988–89 (forecast) 157.0 — — — — — 1 Net public sector debt = Gross public sector debt minus public sector liquid assets. No net public sector debt figures are published for the years prior to 1974–75.