asked the Minister for Finance (a) the national debt in January 1977; (b) the national debt per head of the working population in 1977; (c) the national debt per head of the population in January 1977; if he will give the same information for latest available date in 1982; and the reason for the huge increase between 1977 and 1982.
Written Answers. - National Debt.
395.
The national debt is not available for January 1977. However, the nearest date for which there are figures is at 31 December 1976, when the national debt was £3,612 million. At the same date national debt per head of the working population is estimated at £3,335, and for the total population at £1,104. The latest estimate for the national debt is £11,000 million at 31 March 1982, and the corresponding data on national debt per head of the working population are estimated at £9,458 while the debt per head of the total population at that time stood at £3,198. For the purpose of the reply, working population has been taken as the total number employed.
The increase in the national debt between 1977 and 1982 was due to the growth from £410 million in 1977 to £1,165 million in 1982 in the Exchequer-financed portion of the Public Capital Programme and from £201 million in 1977 to £679 million in 1982 in the current budget deficit.
396.
asked the Minister for Finance (a) the interest on the national debt in January 1977; (b) the interest on the national debt for the latest date in 1982; (c) interest per head of working population in January, 1977; (d) interest per head of the total population at the latest date in 1977; (e) interest per head of the working population at the latest date in 1982; (f) interest per head for the population at the latest date in 1982.
The information requested by the Deputy is as follows:
(a) National debt figures are not available for January 1977. The total annual interest payment on the national debt outstanding at end 1976, the nearest date for which figures are available, amounted to approximately £315 million.
(b) The total estimated interest payments on the national debt during 1982 are £1,300 million.
(c) Total annual interest payments on the national debt outstanding at end 1976 amounted to approximately £290 per head of the working population.
(d) Total interest at the latest date in 1977 was approximately £104 per head of total population.
(e) Total estimated interest payments in 1982 amount to approximately £1,118 per head of the working population on the basis of the numbers employed.
(f) Total estimated interest payments in 1982 amount to approximately £378 per head of the total population.