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Stock Relief

Volume 974: debated on Thursday 29 November 1979

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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.

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 Debtmillion)As percentage of Government expenditure
Financial yearAt current pricesAt March 1979 prices*
1960–616612,80110·3
1970–711,4574,1169·6
1971–721,6434,2459·8
1972–731,8794,5289·9
1973–742,3415,11110·8
1974–752,8585,2939·8
1975–763,5605,2909·2
1976–774,5345,85010·6
1977–785,1925,87311·1
1978–796,4586,74811·3
1979–808,150†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.