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Mr. Watkinson
asked the Chancellor of the Exchequer (1) how much Government debt has been sold since interest rates rose to 15 per cent;(2) if he will indicate how much Government debt has been sold at 15 per cent. and at each of the lower level of interest rates which have prevailed since.
Mr. Denzil Davies
Since 7th October last year, when minimum lending rate rose to 15 per cent., issues for cash by Her Majesty's Treasury have totalled £7,700 million of stock. This is broken down in relation to each of the rates for minimum lending rate since then as follows:rate of value added tax, and (
b) a one point movement in the higher rate of value added tax.
Mr. Robert Sheldon
About (a) £350 million and (b) £40 million in a full year.