§ 9. Mr. Lipton
asked the Chancellor of the Exchequer how much in dollars was transferred to the United States of 181 America during each of the past five years by way of dividends to United States shareholders in British companies.
§ Mr. Selwyn Lloyd
Payments of interest and dividends in respect of United States direct investment shareholdings in British companies—excluding oil and insurance—are estimated at 93 million dollars in 1958 and 104 million dollars in 1959. Figures on a comparable basis for earlier years are not available. These figures exclude portfolio investment by United States investors.
§ Mr. Lipton
Is the Chancellor satisfied with these figures or does he want to see them increased or reduced in the next year or two?
§ Mr. C. Osborne
What amount of American dividends axe paid to British shareholders? Is it not a fact that more money comes from America to British shareholders than British dividends go to America?
§ Mr. Lloyd
It is difficult to arrive at precise figures, but the figures on a strictly comparable basis in relation to the Question asked by the hon. Member for Brixton (Mr. Lipton) are 17 million dollars in 1958 and 20 million dollars in 1959. These figures did not include the portfolio investment, which is very much larger in our case than it is for Americans in our country.