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Orders of the Day — Finance Bill

Part of the debate – in the House of Commons at 5:24 pm on 20th April 2004.

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Photo of David Taylor David Taylor Labour/Co-operative, North West Leicestershire 5:24 pm, 20th April 2004

I am listening with interest to my hon. Friend's careful analysis. How does he factor in the fact that, in the seven years of Labour Government, we have racked up private finance initiative off-balance-sheet debt of approximately £120 billion—about 10 per cent. of gross domestic product? Does that have an impact on our borrowing position in the short to medium term?