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Civil Service Dispute (Government Borrowings)

Volume 14: debated on Tuesday 8 December 1981

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asked the Chancellor of the Exchequer what is the total interest paid, to the latest available date, on borrowing made by the Government to offset tax revenue uncollected as a result of the Civil Service dispute; and what are the individual monthly figures for such interest.

[pursuant to his reply, 7 December 1981, c. 316]: It is estimated that interest on extra borrowing resulting from the Civil Service dispute amounted to £350 million to £400 million at the end of November. The approximate monthly figures are £15 million in April, £25 million in May, £30 million in June, £50 million in July and £60–£70 million in each following month to November. The amount in March was small.