§ 32 and 33. Mr. Gower
asked the Chancellor of the Exchequer (1) if he will state approximately the total British capital invested in industry overseas;
(2) if he will state approximately the total capital of the United States of America and other overseas countries, respectively, invested in British industry.
§ 28 and 29. Mr. Cooper
asked the Chancellor of the Exchequer (1) what is the estimated total of British capital invested in American industry;
968 (2) what is the estimated total of American capital invested in the United Kingdom.
§ Mr. Selwyn Lloyd
I regret that figures of the total amount of United Kingdom capital invested in industry in the United States and other countries are not available. According to United States Government estimates, the book value of direct private investment by United States companies in the United Kingdom amounted to £884 million at the end of 1959. Information about the direct investment of other overseas countries in the United Kingdom is not available.
Mr. H. Wilson
When the Chancellor expresses his belief in the uncontrolled freedom of investment across national frontiers, he is referring to American investment in this country. Would he give a similar welcome if President Nasser tried to buy shares in the Manchester Ship Canal Company?
§ Mr. Ridsdale
In reply to Question No. 32, is my right hon. and learned Friend able to say what proportion of British capital invested overseas is long-term and what proportion is short-term, and what proportion of this is reflected in our balance of payments and invisible exports?