asked the Minister for Finance the debt maturity in respect of domestic and foreign loans for each year from 1982 to 1995 inclusive and the amount for each year; and if he will make a statement on the matter.
Written Answers. - Domestic and Foreign Loans.
73.
The information requested by the Deputy is provided in the Table below.
The figures for 1987 to 1992 are based on the debt outstanding at 30 September 1987 and the 1987 figures take account of repayments made up to end September.
Government Debt
|
Domestic National Loans Maturing |
Scheduled Repayment of Foreign Loans |
|
|
£m |
£m |
|
|
1982 |
729 |
441 |
|
1983 |
790 |
374 |
|
1984 |
774 |
683 |
|
1985 |
1,352 |
292 |
|
1986 |
1,229 |
336 |
|
1987 |
1,132 |
411 |
|
1988 |
1,260 |
291 |
|
1989 |
1,310 |
351 |
|
1990 |
1,041 |
458 |
|
1991 |
968 |
665 |
|
1992 |
746 |
597 |
|
1993 |
818 |
805 |
|
1994 |
615 |
858 |
|
1995 |
295 |
1,069 |
Exchequer bills and other short term borrowings which are repayable on demand or at very short notice are excluded from the above figures. The scheduled repayments of foreign loans for 1985 and the following years reflect the effects of the prepayment/refinancing programme which began in 1984.
The very substantial domestic and foreign borrowings to be repaid in the years ahead underline the necessity to reduce the amount of new borrowing required for financing Government current and capital expenditure; such borrowing would be additional to the borrowing required to refinance maturing debt.