HC Deb 15 October 1968 vol 770 cc184-5
12. Sir B. Rhys Williams

asked the Chancellor of the Exchequer what measures are now proposed to encourage the repatriation of British capital.

Mr. Roy Jenkins

The Government have already taken action on this front. The 25 per cent. scheme is making a substantial contribution in transferring to the first-line reserves a proportion of the nation's foreign currency assets and tax changes since 1965 have reduced the attractiveness of overseas investment as a whole.

Sir B. Rhys Williams

Will the Chancellor tell the House what are the Government's plans for increasing the profitability of investment in this country?

Mr. Jenkins

I have no specific plans to announce, but it is clearly the case that the profitability of British industry has been increasing fairly sharply since the Budget, which I predicted at that time would be the case. That, I have no doubt, will have a considerable effect on investment.