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Budget Forecasts

Volume 29: debated on Thursday 28 October 1982

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asked the Chancellor of the Exchequer whether the latest calculations for the money supply and public sector borrowing requirement is in accord with projections made at the time of his Budget.

:The rates of growth of all three target money supply aggregates are within the range of 8-12 per cent. set in the Budget.The public sector borrowing requirement for the first half of 1982–83 is estimated to have been £4·5 billion (£3·0 billion seasonally adjusted) against a Budget forecast for 1982–83 of £9·5 billion. It now looks as though the PSBR in 1982–83 could be lower than the Budget forecast. The Industry Act forecast will contain a later assessment of the likely outturn.