HC Deb 19 January 1965 vol 705 cc16-7
33. Mr. Shepherd

asked the Chancellor of the Exchequer if he will give an estimate of the amount of British assets overseas and British liabilities overseas, respectively.

Mr. Callaghan

The 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. Shepherd

Would 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. Callaghan

I 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.