National Debt

Treasury written question – answered on 21st January 2008.

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Photo of John Hayes John Hayes Shadow Minister (14-19 Reform and Apprenticeships)

To ask the Chancellor of the Exchequer what the cost of servicing the national debt was in the latest period for which figures are available; and what it was in 1997.

Photo of Angela Eagle Angela Eagle The Exchequer Secretary, Member, Labour Party National Executive Committee

Figures for central Government debt interest payments in current prices are published monthly by the Office for National Statistics and can be found in Table 1.1C: Central Government (series NMFX), available at:

http://www.statistics.gov.uk/StatBase/tsdtables1.asp?vlnk=fsf

Central Government debt interest payments form approximately 97 per cent. of the total public sector debt interest payments.

As a percentage of gross domestic product (GDP), total public sector debt interest payments have fallen from 3.6 per cent. in 1997-98 to 2.2 per cent. in 2006-07.

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