§ 32. Mr. Grimondasked the Chancellor of the Exchequer the total contributions from the United Kingdom to inter national organisations concerned with assisting under-developed countries; and what proportion it is of the national income.
Mr. AmoryThey were £2.3 million in 1958–59. This equalled .01 per cent. of our national income. In addition, nearly £19 million was disbursed in 1958–59 from the United Kingdom sterling subscription to the International Bank for Reconstruction and Development under loans from that institution to under-developed countries. This equalled nearly 0.1 per cent. of our national income.
These figures exclude the much greater bilateral assistance from the United Kingdom to overseas countries and territories.
§ Mr. GrimondIs it not the case that statements, which are occasionally made, that we directly contribute more than 1 per cent. of our national income towards help for the under-developed countries are not strictly true, although, taking account of private investment in the under-developed countries, admittedly we make a very substantial contribution?
Mr. AmoryNo, Sir. Even without private investment the figure of direct assistance to the under-developed countries, counting our bilateral assistance, comes to 1 per cent. of our gross national product.