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Government Borrowing

Volume 884: debated on Tuesday 21 January 1975

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asked the Chancellor of the Exchequer whether he will publish an estimate of the amount of British Government borrowing in the Eurocurrency markets, in the past six months, which has been used directly or indirectly to increase personal consumption expenditure.

None. In the last six months of 1974, drawings on the $2·5 billion facility for Her Majesty's Government to borrow on the Euromarket totalled $1·5 billion, but the proceeds were used to augment the gold and foreign currency reserves.