asked the Chancellor of the Exchequer whether he will give an estimate of the increased cost of servicing the public debt in the current financial year as a result of increases in interest rates since the beginning of the financial year on the assumption that minimum lending rate remains at 17 per cent.

I regret that I am unable to give my right hon. and learned Friend the information which he requests. To answer this question fully it would be necessary to make assumptions about borrowing rates, and other monetary and exchange rate policies, both before and after the increase in interest rates. I am unwilling to commit my Department's resources in this way, which would be costly and displace other work. My right hon. and learned Friend might wish to pursue his inquiry via his access to the Treasury model through the Library of the House.