asked the Minister for Finance the total national debt on each of the following dates: 31 December 1982; 31 December 1983; 31 December 1984; and 31 May 1985; and the estimated national debt on 31 December 1985.
35.
Written Answers. - National and Foreign Debt Statistics.
34.
asked the Minister for Finance (a) the total State foreign debt and (b) the Exchequer foreign debt on each of the following dates: 31 December 1982; 31 December 1983; 31 December 1984; and 31 May 1985; and the estimated figures for each on 31 December 1985.
I propose to take Questions Nos. 34 and 35 together.
As I indicated to the Deputy in reply to a question on 16 October 1984 Official Report of 16 October 1984, column 2404), published statistics on the foreign debt are available only on a quarterly basis. The same applies to statistics on the national debt. Accordingly the latest available data are in respect of 31 March 1985, rather than 31 May 1985. It is not possible to estimate the public debt as at 31 December 1985 as this will depend in part on the level of foreign borrowing undertaken in 1985 and on exchange rate movements between now and the end of the year.
The following is the information requested by the Deputy subject to the modifications I have indicated.
|
Date |
National Debt |
State Foreign Debt* |
Exchequer Foreign Debt |
|
£m |
£m |
£m |
|
|
31 December 1982 |
12,817 |
6,959 |
5,290 |
|
31 December 1983 |
15,754 |
9,050 |
7,017 |
|
31 December 1984 (estimate) |
18,500 |
10,085 |
7,920 |
|
31 March 1985 (estimate) |
19,100 |
10,784 |
8,584 |
* State foreign debt consists of the foreign debt of the Exchequer and the semi-State bodies.
36.
asked the Minister for Finance the total cost to the State of servicing (a) Exchequer foreign debt and (b) the State foreign debt in each of the years 1980, 1981, 1982, 1983, 1984 and the estimated cost for 1985; and the proportion each such figure represents of total tax revenue in each year and the estimated proportion in 1985.
I take it that, in the reference to State foreign debt in part (b) of the question, the Deputy has in mind Exchequer debt. The figures have been prepared on that basis. It is not possible to provide an estimate of the 1985 figures as they will depend, in part, on the level of foreign borrowing undertaken this year. The following is the information requested for the years 1980 to 1984.
|
Year |
Service of Exchequer Foreign Debt |
|
|
(i) |
(ii) |
|
|
£m. |
As % of tax revenue |
|
|
1980 |
164 |
6.3% |
|
1981 |
250 |
7.5% |
|
1982 |
516 |
12.7% |
|
1983 |
579 |
12.4% |
|
1984 |
702 |
13.2% |