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National Debt

Volume 931: debated on Tuesday 3 May 1977

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asked the Chancellor of the Exchequer how many donations have been received by the Treasury to relieve the National Debt from members of the public in each year since 1945; and what was the total sum raised in each year.

Details in respect of the years 1945–48 are not readily available. The following shows the number of donations and sums raised in each of the years ending 31st March 1949 to 1977:

Year ending 31st MarchNumber of DonationsSums raised
£
194941595,310
19503752,409
19513741,012
19522950,347
195341137,883
19543331,669
195554100,886
19563448,745
19571831,239
19582811,588
19593652,186
19603583,012
19613041,381
19622827,904
19632629,155
19643051,403
19652645,611
19662112,227
19674232,894
19683925,350
19692241,680
19702627,396
197135501,796
19725453,442
197332197,037
19743345,384
197537110,744
19762263,476
197748117,912

asked the Chancellor of the Exchequer what is the size of the National Debt in (a) current prices, and (b) in constant prices in each year since 1945.

The National Debt at current and constant prices since 1945 was as follows:

£million
At current pricesIn constant prices (January 1974=100)
194521,366*
194623,63680,395
194725,63181,627
194825,62175,802
194925,16872,740
195025,80272,478
195125,92266,809
195225,89162,842
195326,05162,174
195426,58362,401
195526,93461,075
195627,03958,780
195727,00756,857
195827,23255,803
195927,37655,756
196027,73355,917
196128,25255,396
196228,67454,102
196329,84855,274
196430,22654,168
196530,44152,125
196631,34151,633
196731,98651,342
196834,19452,445
196933,98449,466
197033,07945,252
197133,44241,803
197235,84041,820
197336,88539,449
197440,12536,982
197545,92634,070
197656,58236,017
* A 1945 figure at constant prices is not available.

asked the Chancellor of the Exchequer what is the biggest single donation from members of the public that has been received to relieve the National Debt.

The largest single donation for the reduction of the National Debt was about £527,000, given in 1928 by Lord Inchcape in memory of his daughter, the Hon. Elsie Mackay. This sum was to be accumulated for not more than 50 years and then applied in reduction of the National Debt. By 31st March 1976 the original sum had accumulated to the value of £4,039,000.