§ Mr. Cockeram
asked the Chancellor of the Exchequer what was the average interest rate paid on new debt added to the national debt in each of the past 15 years; and what is the average interest rate to be paid on new debt raised during the current financial year.
§ Mr. Lawson
The national debt is the total nominal liability of the national loans fund set up under the National Loans Act 1968, and it comprises many varied forms of borrowing. It is thus not possible to state the average interest rate paid in past years on new debt, nor is there any forward estimate of the national debt.