§ Mr. Malcolm BruceTo ask the Chancellor of the Exchequer what is the present size of the net public sector debt; and what was the equivalent figure in(a) November 1990 and (b) May 1979. [809]
§ Mr. Waldegrave[holding answer 31 October 1996]: Debt figures are not available on a monthly basis; published figures record the stock of debt at the end of each financial year. A provisional estimate of net public sector debt at end March 1996 of £323 billion was published in the "Summer Economic Forecast'''. Equivalent figures for end March 1991 and end March 1979 were £154 billion and £91 billion respectively. Such comparisons are not particularly meaningful since they take no account of the impact of inflation or the size of the economy. As a per cent. of money GDP, net public sector debt in 1996 was somewhat lower than in 1979.
§ Mr. BruceTo ask the Chancellor of the Exchequer what is his estimate of the net public sector debt per income tax payer; and what was the figure in(a) November 1990 and (b) May 1979. [812]
§ Mr. Waldegrave[holding answer 31 October 1996]: Debt figures are not available on a monthly basis; published figures record the stock of debt at the end of each financial year. Based on the provisional estimate of net public sector debt at end March published in the "Summer Economic Forecast", NPSD per income tax payer at end-March 1996 was £12,700. Equivalent figures for end-March 1991 and end March 1979 were £5,900 and £4,300 respectively. Such comparisons are not particularly meaningful since they take no account of inflation. Real net public sector debt per income tax payer was marginally lower in 1996 than in 1979.