asked the Minister for Finance the current revenue, current expenditure, gross national product for each year from 1977 to 1987; and if he will make a statement on the matter.
Written Answers. - Exchequer Statistics.
70.
The following table sets out the information requested in respect of the years 1977 to 1987:
|
Year |
Current Revenue |
Current Expenditure |
Current Budget Deficit |
Capital Budget Deficit |
Exchequer Borrowing Requirement |
|
as a % of Gross National Product |
|||||
|
1977 |
31.4 |
35.0 |
3.6 |
6.1 |
9.8 |
|
1978 |
31.0 |
37.1 |
6.1 |
6.3 |
12.4 |
|
1979 |
31.2 |
38.1 |
6.8 |
6.4 |
13.2 |
|
1980 |
35.0 |
41.1 |
6.1 |
7.4 |
13.5 |
|
1981 |
36.6 |
44.0 |
7.4 |
8.5 |
15.9 |
|
1982 |
39.4 |
47.3 |
7.9 |
7.7 |
15.6 |
|
1983 |
42.3 |
49.4 |
7.1 |
5.9 |
13.0 |
|
1984 |
40.6 |
47.7 |
7.1 |
5.4 |
12.4 |
|
1985 |
41.3 |
49.7 |
8.4 |
4.8 |
13.1 |
|
1986 |
41.4 |
50.0 |
8.6 |
4.6 |
13.2 |
|
1987 |
41.7 |
48.6 |
6.9 |
3.8 |
10.7 |
Note: Some Budget figures do not add up due to rounding.
The overall aim of Government fiscal policy is to restore order to the public finances by bringing about in the first instance a stabilisation of the Debt/GNP ratio and a reduction in it thereafter. Fiscal policy will be geared to achieving the stabilisation objective by 1990 at the latest. This will necessitate further reductions in borrowing over the next three years.