HC Deb 20 December 1990 vol 183 cc299-300W
Mr. French

To ask the Chancellor of the Exchequer what is the current total amount outstanding on the national debt; if he will express the figure as a percentage of gross domestic product; and if he will make a statement.

Mr. Maples

Net public sector debt was £150.6 billion at end March 1990. This represented 28 per cent. of gross domestic product and compares with a net public sector debt of 51 per cent. of gross domestic product at end March 1979.

Mr. French

To ask the Chancellor of the Exchequer if he will estimate the savings to the Treasury in reduced interest payments caused by the repayment of the national debt for each year since 1987.

Mr. Maples

I estimate that the reduction in interest payments as a result of the successive public sector debt repayments since 1987 will be approximately £3 billion every year.

Mr. French

To ask the Chancellor of the Exchequer by how much the Treasury has reduced the national debt for each year since 1987.

Mr. Maples

The figures requested are given in the table:

Net public sector debt
£ billion Percentage of GDP1
At end March
1987 171.8 43
1988 171.4 38
1989 157.8 32
1990 150.6 28
1 Gross domestic product adjusted for the abolition of domestic rates.