§ 21. Mr. Swinglerasked the Chancellor of the Exchequer if he will state the extent to which British assets in the United Kingdom have been acquired by foreign interests in the last ten years, and Her Majesty's Government's general policy for maintaining effective powers to pursue full employment and economic expansion in the United Kingdom.
§ Mr. Selwyn LloydOverseas private investment of a long-term nature in the United Kingdom since 1st January, 1952, is estimated at approximately £500 million. As regards the second part of the Question, overseas investment in British industry should improve the prospects of economic expansion and full employment in this country.
§ Mr. SwinglerThat is not an answer to the Question. Will the Chancellor now say what proportion of the assets of the economy of the United Kingdom are held by people abroad, and to what extent there is a loss of power to control employment in this country, and what criteria the Treasury will apply to future applications which affect the power to maintain full employment in the United Kingdom?
§ Mr. LloydI have given the hon. Member the figure of overseas private investment in this country since 1952 and it is a very minute proportion.
§ Mr. NabarroWould not my right hon. and learned Friend agree that as far as the £500 million of foreign money invested in this country in the last eight years is concerned, more than three times greater a sum of British funds has been invested in the Commonwealth and foreign countries in a comparable period?