asked the Minister for Finance the level of the public sector borrowing requirement as a percentage of GNP in 1980; the level of the balance of payments deficit and as a percentage of GNP; and the comparable figures for the other countries participating in the European Monetary System.
Written Answers. - Public Sector Borrowing.
56.
The level of the public sector borrowing requirement, which includes borrowing by State bodies and local authorities, was 18.9 per cent of GNP in 1980. As stated in Economic Background to the Budget the balance of payments deficit on current account in 1980 is tentatively estimated at about £750 million or 9 per cent of GNP.
The information requested by the Deputy in regard to the level of public sector borrowing in the other countries participating in the EMS is not available. The balance of payments deficit as a percentage of GDP in 1980 for the other EMS countries is estimated to be:
|
Denmark |
4.1 |
|
|
Germany |
1.7 |
|
|
France |
1.3 |
|
|
Italy |
2.6 |
|
|
Netherlands |
1.5 |
|
|
Belgium |
5.6 |
|
|
Luxembourg |
20.8 |
(surplus) |