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22.
Dr. Lynne Jones
To ask the Chancellor of the Exchequer if he will make a statement on his policy towards net public sector debt. [79466]
Mr. Milburn
The Government's Sustainable Investment Rule requires that public sector net debt as a proportion of GDP be held over the economic cycle at a stable and prudent level. The projections contained in Budget '99 show net public debt falling below 40 per cent. of GDP this year and to around 35 per cent. of GDP by 2003–04.