§ Mr. Gordon PrenticeTo ask the Chancellor of the Exchequer what have been the principal factors underlying the changes in the levels of the national debt since November 1990. [899]
§ Mr. WaldegraveChanges in national debt principally reflect the level of Government borrowing, which increased substantially in the recession in the early 1990s. The public sector borrowing requirement has since fallen; the latest forecast for 1996–97 is for a PSBR as a per cent. of gross domestic product of half its peak level in 1993–94.