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National Debt

Volume 281: debated on Tuesday 16 July 1996

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10.

To ask the Prime Minister if he will make a statement on trends in the level of national debt since 1990. [35821]

There are a number of different measures of public debt. On the measure used for the European Union excessive deficits procedure, the general Government gross debt—GGGD/GDP—ratio remains lower than any other EU member state apart from Luxembourg and France.Since 1991, the GGGD/GDP ratio has averaged 44 per cent. Under the last Labour Government, the GGGD/GDP ratio averaged 62 per cent.