asked the Minister for Finance the total extent of borrowing abroad in the decade 1969 to 1979 (i) at historical exchange rates and (ii) at current prices and the extent to which the figures in this decade are exceeded by the aggregate of the current budget deficits for the same period.
Written Answers. - Borrowing Statistics.
482.
The total extent of Exchequer foreign borrowing at the exchange rates obtaining at the times of the borrowings in the years 1969-70 to 1979 was £1,324 million. It is assumed that by current prices the Deputy has in mind current exchange rates and on this basis the answer to the second part of the question is £1,453 million. The aggregate of the current budget deficits in this period exceeds the above figures by £376 million and £247 million respectively.
483.
asked the Minister for Finance the estimated volume of prospective borrowing requirement for the year 1980 on the assumption that such borrowing would not exceed 10 per cent of GNP.
Both the level of the borrowing requirement and the composition of the budget inter-act with the prospective level of GNP. The planned size of the borrowing requirement this year, both in absolute terms and as a percentage of GNP, will be indicated in my Financial Statement on 27 February 1980.