Below is the text of Mr Major’s written Parliamentary Answer on the Balanced Budget on 8th June 1989.
Mr. Patnick To ask the Chancellor of the Exchequer when, on present trends, a balanced Budget will be achieved; and when was the last occasion a balanced Budget was achieved.
Mr. Major The Government intend to move gradually from the present surplus towards a balanced budget over the medium term. The PSBR has been in surplus in each of the last two years, something achieved in only one previous year since the beginning of the 1950s. In all other years, the PSBR has been in deficit.