Written Answers. - Foreign and National Loans.

315.

asked the Minister for Finance the amount of (a) foreign and (b) national loans due to be repaid in each of the next ten years.

On the basis of the debt outstanding on 10 February 1983 the amount of (a) foreign and (b) national loans due to be repaid in each of the next ten years, including repayments already made in 1983, are estimated to be as follows:

Year

Foreign Loans IR£M.

National Loans IR£M.

1983

330

790

1984

557

634

1985

317

702

1986

638

459

1987

611

246

1988

777

150

1989

716

142

1990

347

278

1991

438

69

1992

297

221

The figures for foreign loan repayments are based on exchange rates obtaining on 10 February 1983. The figures for national loans exclude very short-term liabilities such as Exchequer bills which are being constantly rolled over and small savings.

316.

asked the Minister for Finance (a) the amount borrowed each year, both in foreign and national loans, from 1977 to date; (b) the amount spent on capital expenditure; (c) the amount spent on other matters each year from that money; and (d) the money borrowed each year as a percentage of gross national income from 1977 to 1983.

The information requested by the Deputy regarding Exchequer borrowing is as follows:

Year

Amount Borrowed

Borrowing for Capital Expenditure

Borrowing for Non-Capital Expenditure

Borrowing as a Percentage of GNP

Foreign

Domestic

£m

£m

£m

£m

1977

86

459

344

201

10.1%

1978

23

787

413

397

12.8%

1979

509

500

487

522

13.8%

1980

566

651

670

547

14.3%

1981

1,285

437

920

802

17.1%

1982

1,148

797

957

988

16.5%

1983

Total Exchequer £1,722 *

825

897

13%

(Budget Estimate)

*The breakdown of estimated borrowings in 1983 as between foreign and domestic borrowing is not available. The amount of foreign borrowing will be decided from time to time during the year having regard to the Exchequer's financing needs, sales of domestic securities, inflows from small savings schemes, the position of the external reserves and the availability of foreign funds.

The figures for borrowing in foreign loans do not include sales of Government gilt edged stock to non-residents.