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1647660

	registered interest
	date	26/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an estimate of the expected level of public sector net debt in April 2024.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	191010
	answer	answer is ministerial correction date of answer 29/06/2023 answer text <p>The Treasury does not publish forecasts of the economy or public finances; the Office for Budget Responsibility (OBR) is the UK’s official forecaster and provides independent analysis of the UK’s public finances.</p><p> </p><p>The OBR’s latest forecast can be found on their website: <a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2023/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2023/</a></p><p> </p><p>The OBR will publish an updated forecast later this year.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/06/2023 15:44:56 answering member 4051 label Biography information for John Glen
	tabling member	1409 label Biography information for Mr Gregory Campbell

1545253

	registered interest
	date	24/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 November 2022 to Question 78647, what recent discussions he has had with the Office for Budget Responsibility on the Public Sector Net Debt.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	95795
	answer	answer is ministerial correction date of answer 29/11/2022 answer text <p>As the Government’s official independent forecaster, the Government has a close working relationship with the Office for Budget Responsibility (OBR). In the lead up to the recent Autumn Statement and accompanying OBR forecast, the OBR were engaged in the normal way. As is set out in the foreword of the OBR’s November Economic and Fiscal Outlook (EFO), the forecast process involved the OBR producing multiple draft iterations of the forecasts which it shared with the Chancellor. These drafts included forecasts for Public Sector Net Debt. The Chancellor Jeremy Hunt also met with the OBR to discuss the forecast on the 17 October and 16 November.</p><p> </p><p>The OBR published an updated forecast for Public Sector Net Debt as part of their November 2022 Economic and Fiscal Outlook. The OBR forecast that Public Sector Net Debt for 2022-23 will be £2,571 billion or 101.9% of GDP.</p><p> </p><p> </p><p>The Government supports the vital, independent role the OBR plays, which give markets, the public, and the world confidence that our economic plans are credible, and rightly holds us to account for delivering them.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/11/2022 12:05:58 answering member 4051 label Biography information for John Glen
	tabling member	1409 label Biography information for Mr Gregory Campbell

1539016

	registered interest
	date	03/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an estimate of what the level of public sector net debt will be at the end of the 2022-23 financial year.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	78647
	answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>The Treasury does not publish forecasts of the economy or the public finances; the Office for Budget Responsibility (OBR) is the UK’s official forecaster. In their March 2022 forecast, the OBR projected that Public Sector Net Debt (PSND) for 2022-23 will be £2.4 trillion or 95.5% of GDP. Latest outturn data from the Office for National Statistics (ONS) shows by the end of September, PSND had reached 98% of GDP.</p><p> </p><p>The OBR will publish an updated fiscal forecast on 17 November, alongside the Autumn Statement.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/11/2022 14:28:28 answering member 4051 label Biography information for John Glen
	tabling member	1409 label Biography information for Mr Gregory Campbell

1536352

	registered interest
	date	26/10/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact of rising (a) inflation and (b) refinancing costs on the cost of servicing Government debt.
	tabling member constituency	North Down
	tabling member printed	Stephen Farry
	uin	72487
	answer	answer is ministerial correction date of answer 03/11/2022 answer text <p>Inflation has a range of impacts on the public finances and previous OBR forecasts have shown how inflation can increase spending on welfare and debt interest, as well as tax revenues. With respect to debt interest, the most recent OBR forecast in March projected that government spending on debt interest would reach £83.0 billion in 2022-23. The OBR also publish a ‘ready reckoner’ to estimate the effect of changes in economic determinants, such as inflation and gilt rates. This shows the estimated change in debt interest costs from a 1 percentage point increase in inflation and gilt rates throughout the forecast.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/11/2022 10:54:42 answering member 4051 label Biography information for John Glen
	tabling member	4856 label Biography information for Stephen Farry

1472118

	registered interest
	date	21/06/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to reduce the national debt; and what assessment he has made of the potential implications for the economy of the size of the national debt.
	tabling member constituency	Liverpool, Wavertree
	tabling member printed	Paula Barker
	uin	22593
	answer	answer is ministerial correction date of answer 27/06/2022 answer text <p>Thanks to responsible decisions taken by this Government, the public finances are back on a sustainable path, with debt on track to fall from 2022-23 and decrease to 83.1% of GDP by the end of the Office for Budget Responsibility (OBR) March 2022 forecast. High debt leaves the UK’s public finances vulnerable to shocks. It is important to rebuild fiscal space in order to safeguard against future threats and allow the Government to support the economy as and when it is needed. The Government aims to achieve a falling trajectory for debt given this heightened level of risk, as well as evidence suggesting debt trajectories are important to macroeconomic performance.</p> answering member constituency Salisbury answering member printed John Glen question first answered 27/06/2022 13:48:51 answering member 4051 label Biography information for John Glen
	tabling member	4828 label Biography information for Paula Barker

1451936

	registered interest
	date	16/03/2022
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Attorney General, on what occasions she or her predecessors met with Treasury ministers or officials between 1 January 2017 and 16 March 2022 to discuss (a) cy-près schemes or (b) charitable contributions to reduce the national debt.
	tabling member constituency	Islington South and Finsbury
	tabling member printed	Emily Thornberry
	uin	141158
	answer	answer is ministerial correction date of answer 21/03/2022 answer text <p>There have been no Ministerial-level meetings (either Minister-Minister or Minister-Officials) between the Attorney General’s Office (AGO) and Her Majesty’s Treasury (HMT) between 1 January 2017 and 16 March 2022 to discuss (a) cy-près schemes or (b) charitable contributions to reduce the national debt.</p><p> </p><p>The AGO does not hold official records of any meetings at official level between AGO and HMT between the 1<sup>st</sup> of January 2017 and the 16<sup>th</sup> of March 2022.</p> answering member constituency Cheltenham answering member printed Alex Chalk grouped question UIN 141159 141160 question first answered 21/03/2022 09:47:33 answering member 4481 label Biography information for Alex Chalk
	tabling member	1536 label Biography information for Emily Thornberry

1451937

	registered interest
	date	16/03/2022
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Attorney General, on what occasions the Solicitor General or his predecessors met with Treasury ministers or officials between 1 January 2017 and 16 March 2022 to discuss (a) cy- près schemes or (b) charitable contributions to reduce the national debt.
	tabling member constituency	Islington South and Finsbury
	tabling member printed	Emily Thornberry
	uin	141159
	answer	answer is ministerial correction date of answer 21/03/2022 answer text <p>There have been no Ministerial-level meetings (either Minister-Minister or Minister-Officials) between the Attorney General’s Office (AGO) and Her Majesty’s Treasury (HMT) between 1 January 2017 and 16 March 2022 to discuss (a) cy-près schemes or (b) charitable contributions to reduce the national debt.</p><p> </p><p>The AGO does not hold official records of any meetings at official level between AGO and HMT between the 1<sup>st</sup> of January 2017 and the 16<sup>th</sup> of March 2022.</p> answering member constituency Cheltenham answering member printed Alex Chalk grouped question UIN 141158 141160 question first answered 21/03/2022 09:47:33 answering member 4481 label Biography information for Alex Chalk
	tabling member	1536 label Biography information for Emily Thornberry

1451938

	registered interest
	date	16/03/2022
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Attorney General, on what occasions officials in her Department met with Treasury ministers or officials between 1 January 2017 and 16 March 2022 to discuss (a) cy- près schemes or (b) charitable contributions to reduce the national debt.
	tabling member constituency	Islington South and Finsbury
	tabling member printed	Emily Thornberry
	uin	141160
	answer	answer is ministerial correction date of answer 21/03/2022 answer text <p>There have been no Ministerial-level meetings (either Minister-Minister or Minister-Officials) between the Attorney General’s Office (AGO) and Her Majesty’s Treasury (HMT) between 1 January 2017 and 16 March 2022 to discuss (a) cy-près schemes or (b) charitable contributions to reduce the national debt.</p><p> </p><p>The AGO does not hold official records of any meetings at official level between AGO and HMT between the 1<sup>st</sup> of January 2017 and the 16<sup>th</sup> of March 2022.</p> answering member constituency Cheltenham answering member printed Alex Chalk grouped question UIN 141158 141159 question first answered 21/03/2022 09:47:33 answering member 4481 label Biography information for Alex Chalk
	tabling member	1536 label Biography information for Emily Thornberry

1364987

	registered interest
	date	01/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will publish an assessment of the impact of his receipt of IMF Special Drawing Rights on public sector net debt.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Liam Byrne
	uin	67070
	answer	answer is ministerial correction date of answer 09/11/2021 answer text <p>The historic $650bn allocation of IMF SDRs has provided much needed liquidity for vulnerable countries, freeing up resources to pay for crucial needs such as vaccines and food imports. The UK, together with other G20 countries, have called on the IMF to work quickly with the membership to explore options for countries with strong external positions to voluntarily channel a portion of their allocated SDRs, to magnify the impact of the allocation and further support resilient and sustainable recoveries in vulnerable countries.</p><p> </p><p>The OBR reported the fiscal impact of the SDR allocation in its October 2021 Economic and Fiscal Outlook. This noted that the SDR allocation results in an equal increase in both the UK's assets and liabilities and has no effect on wider balance sheet aggregates.</p><p> </p><p>The channeling of SDRs through lending to the Poverty Reduction and Growth Trust (PRGT) does not directly affect public sector net debt.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 67071 question first answered 09/11/2021 14:32:13 answering member 4051 label Biography information for John Glen
	tabling member	1171 label Biography information for Liam Byrne

1364988

	registered interest
	date	01/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will publish an assessment of the impact of re-channelling Special Drawing Rights via the IMF on public sector net debt.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Liam Byrne
	uin	67071
	answer	answer is ministerial correction date of answer 09/11/2021 answer text <p>The historic $650bn allocation of IMF SDRs has provided much needed liquidity for vulnerable countries, freeing up resources to pay for crucial needs such as vaccines and food imports. The UK, together with other G20 countries, have called on the IMF to work quickly with the membership to explore options for countries with strong external positions to voluntarily channel a portion of their allocated SDRs, to magnify the impact of the allocation and further support resilient and sustainable recoveries in vulnerable countries.</p><p> </p><p>The OBR reported the fiscal impact of the SDR allocation in its October 2021 Economic and Fiscal Outlook. This noted that the SDR allocation results in an equal increase in both the UK's assets and liabilities and has no effect on wider balance sheet aggregates.</p><p> </p><p>The channeling of SDRs through lending to the Poverty Reduction and Growth Trust (PRGT) does not directly affect public sector net debt.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 67070 question first answered 09/11/2021 14:32:13 answering member 4051 label Biography information for John Glen
	tabling member	1171 label Biography information for Liam Byrne