Pat Cox
Question:167 Mr. Cox asked the Minister for Finance the total cost, in terms of interest and principal, of the redemption of the national debt in 1993.
Written Answers. - Cost of Redeeming National Debt.
As set out in the White Paper on Receipts and Expenditure, the cost of servicing the national debt in 1993 was £2,389.712 million including interest payments totalling £2,158.807 million, together with sinking fund contributions and expenses of issue and management of securities amounting to £230.905 million.
Scheduled and other payments of debt amounting to £2,690 million were refinanced by the issue of new debt.
Short-term debt and personal savings were also refinanced on redemption throughout the year.