HC Deb 09 May 1929 vol 227 cc2320-1
24. Mr. CRAWFURD

asked the President of the Board of Trade if he is aware that a large number of shares in English companies or English holdings in other companies have been sold to America during the past year; if any account has been taken of the proceeds of such sales; and how far this would explain the so-called balance of trade?

Sir P. CUNLIFFE-LISTER

I would refer the hon. Member to the article "The Balance of Trade," in the "Board of Trade Journal" of 28th February last, and, in particular, to the table which summarises the calculations and is headed "Balances of Income and Expenditure in the Transactions (Other than the Lending and Repayment of Capital) between the United Kingdom and All other Countries." It will be clear from this heading that such transactions as those to which the hon. Member refers are not included in the calculations as to balance of trade.

Mr. CRAWFURD

Will the right hon. Gentleman send me a copy of the "Journal"?

Sir P. CUNLIFFE-LISTER

I shall be delighted to do so, and I hope the hon. Member will become a subscriber.