§ 35. Mr. Lipsonasked the Chancellor of the Exchequer what was the total amount of British investments overseas prior to the war; and what is the estimated value of those not yet sold.
§ Sir J. AndersonThe total nominal value of our overseas investments in 1938 has been estimated at £3,600 million. It is not possible under present circumstances to frame any reliable estimate of the actual value of those not sold.
§ Mr. LipsonCould my right hon. Friend say what percentage of these investments have not been sold, in view of the impression abroad that they have all been sold?
§ Sir J. AndersonI would be very glad to do my best, if a Question could be put on the Paper. My hon. Friend will appreciate, however, that while the actual value of those investments with which we have had to part during the war has 344 been put at £1,000,000,000, it is very difficult to relate that to the nominal value of investments, a considerable number of which may have been unsaleable.
§ Mr. ThorneIs it not a fact that the interest on these investments abroad has to be paid either in services or by other methods, and that comes into conflict with our own production?
§ Sir J. AndersonUnhappily, I think it is a question that no longer arises.
§ Mr. WoodburnMay I ask if the right hon. Gentleman give the proportion held on deposit by the Government against the transactions of people at home?
§ Sir J. AndersonYes, I could do that. It would apply particularly to dollar securities, of which we are practically stripped.