§ 33. Mr. Shepherdasked the Chancellor of the Exchequer if he will give an estimate of the amount of British assets overseas and British liabilities overseas, respectively.
§ Mr. CallaghanThe information available and relating to the end of 1962 was set out in the March, 1964, issue of the Bank of England Quarterly Bulletin. Taking short- and long-term items together, total assets were estimated at about £12,800 million and liabilities at about £11,200 million. These are significant figures, even taking into account that many of the assets and liabilities are not liquid.
§ Mr. ShepherdWould the right hon. Gentleman ensure that these figures have wide publicity, since it is still the view of many people overseas that we are a debtor nation whereas we are a creditor nation?
§ Mr. CallaghanI am much obliged to the hon. Gentleman. I will certainly ensure that more publicity is given to these statistics, even taking into account the reservations which must be made about them.