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Mr. Robert Taylor
asked the Chancellor of the Exchequer what is the loss of revenue to the Exchequer by the provision of stock relief in each year since its commencement.
Mr. Peter Rees
I refer my hon. Friend to my reply to the hon. Member for Oldham, West (Mr. Meacher) on 24 May.—[Vol. 967, c. 197–98].
| (A) | (A) | ||||||
| Cost of Servicing National Debt (£ million) | As percentage of Government expenditure | ||||||
| Financial year | At current prices | At March 1979 prices* | |||||
| 1960–61 | … | … | … | … | 661 | 2,801 | 10·3 |
| 1970–71 | … | … | … | … | 1,457 | 4,116 | 9·6 |
| 1971–72 | … | … | … | … | 1,643 | 4,245 | 9·8 |
| 1972–73 | … | … | … | … | 1,879 | 4,528 | 9·9 |
| 1973–74 | … | … | … | … | 2,341 | 5,111 | 10·8 |
| 1974–75 | … | … | … | … | 2,858 | 5,293 | 9·8 |
| 1975–76 | … | … | … | … | 3,560 | 5,290 | 9·2 |
| 1976–77 | … | … | … | … | 4,534 | 5,850 | 10·6 |
| 1977–78 | … | … | … | … | 5,192 | 5,873 | 11·1 |
| 1978–79 | … | … | … | … | 6,458 | 6,748 | 11·3 |
| 1979–80 | … | … | … | … | 8,150† | 7,323‡ | 12·8† |
| * Based on the general index of retail prices. | |||||||
| † Provisional. Figures from the Financial Statement and Budget Report 1979–80. | |||||||
| ‡ Based on prices in September and October 1979. | |||||||