asked the Minister for Finance the Government borrowing for each year from 1970 to 1985, inclusive.
Ceisteanna—Questions. Oral Answers. - Government Borrowing.
9.
The information requested by the Deputy is in the form of the following tabular statement which I propose to circulate with the Official Report.
|
Year |
Amount of Government (i.e. Exchequer) Borrowing |
|
£m |
|
|
1970-71 |
118 |
|
1971-72 |
128 |
|
1972-73 |
151 |
|
1973-74 |
206 |
|
1974 (9 months) |
333 |
|
1975 |
601 |
|
1976 |
506 |
|
1977 |
545 |
|
1978 |
810 |
|
1979 |
1,009 |
|
1980 |
1,217 |
|
1981 |
1,722 |
|
1982 |
1,945 |
|
1983 |
1,756 |
|
1984 |
1,825 |
|
1985 |
2,015 |
Does that information show that the total accumulated national debt has by now increased to £21 billion from less than £13 billion when the Government came to office? If so, will the Minister say if the Government have any proposals to regulate and reduce this huge growing national debt which has been a feature of this Government's policy over the last few years?
It does not show that at all. The figure shows the contrary. The figures show that in 1982 the Government debt was almost £2,000 million. In 1982 the precise figure was £1,945 million.
The 1982 figure for total accumulated debt was closer to £12 billion.
This question referred to borrowing for each year and from what it says here——
The Minister had better go back to his Department. The total national debt is marginally short of £21 billion at the moment.
The Deputy asked about the figure pertaining when we came into office and I have given that figure. All the information is in the tabular reply. If the Deputy is not happy with it and if he feels the figures are incorrect he can raise it through normal channels and we will correct any mistakes.
Is the Minister for Finance not required to know that the total national debt is just short of £21 million? Is the Minister saying that it is a sum very much less than that?
The figure I gave the Deputy related to 1982; the figure for 1985 is £2,015 million.
That is only the borrowing in that year. I am talking about the accumulated national debt.
That is not the question that was asked by Deputy Gallagher.
If the Deputy wishes to put down a question we will do the arithmetic for him and send it to him.
The Minister recognises that the acculumated national debt is £21 billion?
Will the Minister answer Question No. 10, please?