HC Deb 12 December 1957 vol 579 cc1412-3
30. Mr. Albu

asked the Chancellor of the Exchequer what estimates he has made of overseas earnings from the operation of banks, insurance companies, commodity markets and other commercial activities in this country other than direct exports and shipping.

The Economic Secretary to the Treasury (Mr. Nigel Birch)

Direct earnings net from overseas of all forms of banking, insurance, merchanting and brokerage in the United Kingdom in 1956 are estimated to have been in the region of £125 million.

Mr. Albu

In view of the great interest in these figures from the point of view of economic policy and the very conflicting estimates made by different economists, will the Economic Secretary consider publishing these details in future balance of payments White Papers?

Mr. Birch

I will certainly consider the hon. Member's suggestion.

Mr. Jay

Can the Economic Secretary say how much of that sum was insurance?

Mr. Birch

I cannot give a breakdown of the figures. If the right hon. Gentleman wants a breakdown, perhaps he will put down a Question.