Skip to main content

Government Borrowing (International Comparisons)

Volume 976: debated on Tuesday 18 December 1979

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer whether he will circulate in the Official Report a table showing the percentage of gross national product or gross domestic product taken by general Government net borrowing for each year since 1970 in the case of salaries, pension contributions and benefits are concerned.

The table below sets out hon. Members' ordinary salary rates since 1945 and, for comparison, the rate payable to an individual at the mid-point of the salary scale of the principal grade in the Civil Service at the same dates.the United Kingdom, the United States of America, Germany, Italy and Japan.

As I indicated to the hon. Member in my answer to him of 6 December—[Vol. 975, c. 332]—the aggregate most similar to the general Government borrowing requirement for which data are available for a variety of countries is the general Government financial deficit. For 1974 to 1978, this aggregate as a percentage of GDP for the countries in question is given in OECD Economic Outlooknumber 25 July 1979, table 68 on page 143. Comparable figures for the earlier years may be derived from data given in "National Accounts of OECD Countries" 1960–1977 volume 2.