Government Debt

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To ask the Chancellor of the Exchequer which major issues of debt have come up for redemption in the financial years (a) 1987–88 and (b) 1988–89; and which are expected in 1989–90.

The information is as follows:

Per cent.				£ million
(a) The stocks of over £500 million redeemed in 1987–88 were:
10½	Exchequer	Stock	1987	1,550
6½	Funding	Loan	1985–87	559
10	Treasury	Stock	1987	1,600
3	Treasury	Stock	1987	950
12	Treasury	Stock	1987	1,950
7¾	Treasury	Loan	1985–88	500
2	Index-linked Treasury	Stock	1988	1,352

Per cent.				£ million
(b) The stocks of over £500 million redeemed in 1988–89 were:
10½	Exchequer	Stock	1988	1,450
9¾	Treasury Convertible	Stock	1988	1,147
3	British Transport	Stock	1978–88	1,302
9½	Treasury	Stock	1988	2,050
11½	Treasury	Stock	1989	2,250
(c) The stocks of over £500 million redeemed in 1988–89 are:
9½	Treasury Convertible	Stock	1989	854
3	Treasury	Stock	1989	500
10½	Treasury	Stock	1989	1,400
10	Exchequer	Stock	1989	2,400
11	Exchequer	Stock	1989	2,000
5	Treasury	Stock	1986–89	601
13	Treasury	Stock	1990	1,000
2	Index-linked Treasury	Stock	1990	500
11	Exchequer	Loan	1990	1,400
12½	Exchequer	Stock	1990	1,250

To ask the Chancellor of the Exchequer if he will review the rules relating to the holding of Government debt by insurance companies and pension funds.

I do not know which rules the hon. Member has in mind.

Volume 151: debated on Tuesday 25 April 1989