§ 44. Mr. Jannerasked the Chancellor of the Exchequer what statistics he has to indicate the present amount of foreign investment in British industry; what proportion of the whole it represents; and what scope he considers still exists for increasing such investment without risking undue foreign influence over British economic policy.
Mr. AmoryI regret that figures of the total amount of foreign investment in this country are not available. It is estimated, however, that additions to private foreign investment in the United Kingdom have averaged rather more than £100 million a year in recent years. This figure includes foreign investment in British Government securities and undistributed profits from existing investments as well as new investment in industry. The total funds available for investment in this country in the same period averaged nearly £4,000 million a year for the whole economy and about £1,750 million a year for the company sector alone.
Foreign investment, therefore, would clearly have to rise a very long way indeed before there was any risk of its exercising an undue influence on economic policy. In the meanwhile, it continues to be the Government's policy to welcome foreign investment in British industry: such investment is beneficial to the country's economy and in general serves the national interest.