§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what assessment he has made of the conclusions of the Radcliffe committee on the working of the monetary system.
§ Mr. NelsonThe Radcliffe committee on the working of the monetary system reported in 1959. Its recommendations led to publication of the Bank of England "Quarterly Bulletin", December 1960, the collection of monetary statistics, and the publication of CSO "Financial Statistics". Articles covering the Radcliffe committee report can be found in Bank of England "Quarterly Bulletin" December 1969, page 448, and "Quarterly Bulletin" September 1985, page 392.
1995–96 1996–97 1997–98 1998–99 1999–2000 Net public sector debt1 £ billion2 308 321 327 327 319 per cent. of GDP3 41.5 41.5 40.25 38.25 35.75 Gross General government debt1 £ billion2 362 377 386 387 381 per cent. of GDP3 49 48.5 47.25 45.25 42.75 1 At end-March. 2 Rounded to the nearest £1 billion. 3 GDP centred on end-March. Ratios for excessive deficits procedure use GDP for year ending in March, which raises ratio by around 1.25 per cent.