HC Deb 01 July 1969 vol 786 cc212-3
5. Mr. Blaker

asked the Chancellor of the Exchequer if he will give the value of Great Britain's total earnings of foreign exchange in 1968 and the proportion represented by invisible earnings.

The Chief Secretary to the Treasury (Mr. John Diamond)

Excluding credits on capital account, about £9,800 million, of which 36 per cent. were invisible earnings.

Mr. Blaker

In view of those figures, has not the time come for the Government to reconsider fundamentally their policy of discriminating against the service industries in the tax structure and in relation to investment incentives?

Mr. Diamond

One does not discriminate against any section of the economy or of the people. The hon. Gentleman will know that the tax structure is one of the matters which a Committee is considering.