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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

1345800

registered interest
date	12/07/2021
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, what estimate he has made of public sector net debt at the end of the 2021-22 financial year.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	31329
answer	answer is ministerial correction date of answer 15/07/2021 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 2021 forecast, the OBR projected that Public Sector Net Debt (PSND) for 2021-22 will be £2.5 trillion or 107.4% of GDP. In addition, underlying debt (PSND excluding the Bank of England) is forecast to be £2.2 trillion or 93.8% of GDP in 2021-22.</p><p> </p><p>This reflects that the policy support announced by the government in response to the pandemic has led to a significant but necessary increase in borrowing and debt. At the Budget in March, the government set out steps to strengthen the public finances, with the OBR forecast showing the public finances on a more sustainable footing with debt stable over the medium-term.</p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 15/07/2021 10:40:27 answering member 4095 label Biography information for Steve Barclay
tabling member	1409 label Biography information for Mr Gregory Campbell

1240872

registered interest
date	06/10/2020
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 estimate he has made of the level of public sector net debt as a share of GDP, on 1 September 2020.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	99537
answer	answer is ministerial correction date of answer 12/10/2020 answer text <p>The Office for National Statistics (ONS) publishes regular data on the public sector finances including for end-month Public Sector Net Debt. Public sector net debt was 101.9% of gross domestic product (GDP) at 31st August 2020. The next ONS Public sector finances release is expected on the 21<sup>st</sup> of October 2020.</p><p> </p><p>Our fiscal response has been the right thing to do to support jobs, livelihoods and the economy, and will ensure stronger public finances over the longer term. Although this will lead to a rise in borrowing and debt in the near-term, with borrowing costs now close to record lows, this is affordable and sustainable. Over time and as the economy recovers, the government will take the necessary steps to ensure the long-term health of the public finances.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 12/10/2020 11:21:54 answering member 4095 label Biography information for Steve Barclay
tabling member	1409 label Biography information for Mr Gregory Campbell

1184019

registered interest
date	10/03/2020
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 estimate he has made of the level of public sector net debt by March 2022.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	27505
answer	answer is ministerial correction date of answer 13/03/2020 answer text <p>The government’s medium-term economic and fiscal forecasts are produced by the independent Office for Budget Responsibility (OBR).</p><p> </p><p>The most recent Budget forecast was published on 11 March 2020. In this publication, the OBR’s forecast for the level of public sector net debt is £1827 billion in 2021-22, which is 75.0% as a share of GDP.</p><p> </p><p>On 13 March 2020, the OBR are due to publish a supplementary forecast.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 13/03/2020 10:49:50 answering member 4095 label Biography information for Steve Barclay
tabling member	1409 label Biography information for Mr Gregory Campbell

1131609

registered interest
date	12/06/2019
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 the public sector net debt was in May 2017; and what estimate he has made of level of that debt by May 2022.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	263742
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>In May 2017 public sector net debt was 85% of GDP.</p><p>Forecasts for the level of debt are produced by the independent Office for Budget Responsibility. The OBR forecast debt levels at the end of March in each year, and do not provide an estimate of the debt level for each month.</p><p>Debt has begun its first sustained fall in a generation, three years before required by the fiscal rules. At Spring Statement 2019 the OBR forecast the level of public sector net debt in March 2022 will have fallen to 74.9% of GDP.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 17/06/2019 13:38:17 answering member 4097 label Biography information for Elizabeth Truss
tabling member	1409 label Biography information for Mr Gregory Campbell