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Mr. Hammond
To ask the Chancellor of the Exchequer what was the average level of public sector debt as a percentage of gross domestic product in (a) 1974–75 to 1978–79 and (b) 1979–80 to 1996–97. [10883]
Mr. Darling
[holding answer 28 July 1997]: The average level of net public sector debt from 1974–75 to 1978–79 was 55 per cent. of gross domestic product. The average from 1979–80 to 1996–97 was 40 per cent. of GDP.