Mr Major’s Written Parliamentary Answer on Debt Interest – 28 March 1988

Below is the text of Mr Major’s written Parliamentary Answer on Debt Interest on 28th March 1988.

Mr. Gordon Brown To ask the Chancellor of the Exchequer if he will give for each year since 1978 the general Government gross debt interest in cash and real terms and for the years 1988–89 to 1990–91, the planning figures for general Government debt interest in cash and real terms.

Mr. Major Following is the information.

General Government gross debt interest payments (in £ billion)
Cash | Real terms (1)

1978–79 | 7.4 14.4
1979–80 | 9.4 15.8
1980–81 | 11.4 16.0
1981–82 | 13.3 17.1
1982–83 | 13.9 16.6
1983–84 | 14.5 16.6
1984–85 | 16.1 17.6
1985–86 | 17.7 18.2
1986–87 | 17.6 17.6

(2) 1987–88 | 17.5 16.7
(3) 1988–89 | 17.5 15.9
(3) (4) 1989–90 | 17.0 15.0
(3) (4) 1990–91 | 17.0 14.0
(1) Cash figures adjusted to 1986–87 prices by excluding the effects of general inflation as measured by the GDP deflator.
(2) Estimated outturn.
(3) Budget forecast and projections.
(4) Rounded to nearest £ billion.