Article 113: Public Debt
Chapter VII - Finance·~1 min read
Total Government borrowing shall not exceed an amount where the annual cost of servicing the debt and repaying the principal thereof amounts to more than such percentage of Government revenue as may be set by law and agreed with a Secretary of State.
A law enacted by the Legislature may provide for a higher percentage for a limited period where a matter arises of such urgency that in the opinion of the Cabinet it is necessary.
Notes
Government borrowing limits.