The text on this page has been created from Hansard archive content, it may contain typographical errors.
Mr. Austin Mitchell
asked the Chancellor of the Exchequer what is the average rate of interest on the Government's funded debt, distinguishing between long, medium and short-term debt; what where the comparable figures for 1959 and 1969; and what is the nominal value and total interest payable each year on such debt issued since the general election.
Mr. Biffen
Interest paid as a percentage of Government stocks outstanding for the years in question was as follows:
Per cent | |||
Financial years | 0–5 years | 5–15 years | Over 15 years |
1959–60 | 4·4 | 6·9 | 3·5 |
1969–70 | 5·6 | 3·9 | 4·7 |
1978–79 | 8·6 | 8·8 | 8·1 |
Mr. Austin Mitchell
asked the Chanvcellor of the Exchequer if he will publish in the Official Report information showing gross interest on the national debt as a proportion of gross national product in each year from 1952 to date.
Mr. Biffen
Interest on the national debt as a proportion of gross national product is shown in the table below.
1952 | 4·0 |
1953 | 3·8 |
1954 | 3·7 |
1955 | 3·9 |
1956 | 4·0 |
1957 | 3·7 |
1958 | 3·7 |
1959 | 3·5 |
1960 | 3·6 |
1961 | 3·6 |
1962 | 3·3 |
1963 | 3·3 |
1964 | 3·1 |
1965 | 3·1 |
1966 | 3·1 |
1967 | 3·3 |
1968 | 3·0 |
1969 | 3·0 |
1970 | 2·8 |
1971 | 2·8 |
1972 | 2·9 |
1973 | 3·1 |
1974 | 3·3 |
1975 | 3·3 |
1976 | 3·6 |
1977 | 3·6 |
1978 | 3·9 |