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Public Sector Borrowing Requirement

Volume 974: debated on Tuesday 27 November 1979

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asked the Chancellor of the Exchequer whether his Department has calculated what the public sector borrowing requirement would be in a state of full employment; what is the estimated amount; and how this is broken down between central Government, the local authorities and the nationalised industries.

No. The forecasts published on 22 November suggested that an extra 2 per cent. on GDP in 1980 would be likely to reduce the PSBR in 1980–81 by at least half per cent. of GDP.