Financial Resolutions, 1978: Financial Statement, Budget, 1978. - Opening deficit
At this stage, with a revenue estimate of £2,054 million and total estimated expenditure on current services of £2,319 million, the opening deficit on current account is £265 million. The Exchequer borrowing requirement on capital account, based on the public capital programme is £416 million. Thus, my opening borrowing requirement is £681 million. The provisions which I am now about to propose will add to both these figures.