Ivan Yates
Question:220 Mr. Yates asked the Minister for Finance the estimated cost in the reductions of servicing the National Debt arising out of the lower interest rates that are likely to occur in 1994.
Written Answers. - National Debt.
The estimate for debt service costs in 1994 as published in the White Paper of Receipts and Expenditure is £2,229 million, £161 million or 6.7 per cent below the 1993 debt service costs.
The 1994 debt service estimate takes into account the impact of recent interest rate reductions. As the estimate is based on a large number of variables the normal practice is to assume a continuation of existing interest and exchange rates over the budget year.