The text on this page has been created from Hansard archive content, it may contain typographical errors.
Mr. Harry Greenway
To ask the Chancellor of the Exchequer what was the public sector borrowing requirement each year since 1974 at 1992 values; and if he will make a statement.
Mr. Mellor
The figures requested are set out in the table. Between 1974–75 and 1978–79, the PSBR averaged 6¾ per cent. of GDP. Since 1979–80, by contrast, it has averaged 1¾per cent. of GDP.
| Public sector borrowing requirement (£ million) | ||
| Cash | at 1991–92 prices1 | |
| 1974–75 | 8,001 | 38,939 |
| 1975–76 | 10,251 | 39,765 |
| 1976–77 | 8,263 | 28,234 |
| 1977–78 | 5,381 | 16,172 |
| 1978–79 | 9,174 | 24,857 |
| 1979–80 | 9,926 | 23,040 |
| 1980–81 | 12,519 | 24,559 |
| 1981–82 | 8,631 | 15,447 |
| 1982–83 | 8,904 | 14,877 |
| 1983–84 | 9,678 | 15,454 |
| 1984–85 | 10,134 | 15,411 |
| 1985–86 | 5,622 | 8,102 |
| 1986–87 | 3,559 | 4,966 |
| 1987–88 | -3,406 | -4,508 |
| 1988–89 | -14,657 | -18,097 |
| 1989–90 | -7,932 | -9,197 |
| 1990–91 | -465 | -498 |
| 1991–92 | 210,500 | 10,500 |
| 1 Using the GDP deflator | ||
| 2 Autumn Statement forecast | ||