Public Sector Borrowing Requirement

HC Deb 06 July 1992 vol 211 c11W

Sir Thomas Arnold

To ask the Chancellor of the Exchequer what is his latest estimate of the proportion of the public sector borrowing requirement which is represented by additional expenditure due to the recession.

Mr. Portillo

While it is very difficult to make accurate assessments of the impact of the cycle on Government expenditure, my predecessor told the Treasury and Civil Service Committee that of the increases in expenditure for 1992–93 announced in the 1991 autumn statementaround £ 5 billion could be directly attributed to the cycle".