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Financial Statement And Budget Report

Volume 79: debated on Friday 17 May 1985

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asked the Chancellor of the Exchequer if, in the light of the projected privatisation of British Gas, he has made, or intends to make, any adjustment to his calculation of the implied cumulative fiscal adjustment, 1985–89, as outlined in table 2.5, line 13, of the "Financial Statement and Budget Report, 1985–86"; and if he will make a statement.

The estimated fiscal adjustment depends on the projections for Government expenditure and receipts and upon the path for public sector borrowing which the Government consider appropriate. These are reconsidered at Budget time in the light of all relevant factors, including the prospective receipts from the sale of British Gas and other asset sales.