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Borrowing (Public Sector)

Volume 884: debated on Monday 13 January 1975

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asked the Chancellor of the Exchequer how much of this year's public borrowing requirement of £6,300 million he expects to raise from British sources; and how much from foreign.

In the first half of financial year 1974–75 external financing of the public borrowing requirement, which includes direct borrowing by the public sector and foreign currency borrowing through the banks, amounted to £847 million. During the second half year it will include drawing on the Eurodollar loan to Her Majesty's Government and changes in the reserves, as well as other foreign borrowing. The hon. Member will not expect me to publish forecasts for these. The remainder of the deficit will be financed from domestic sources.