Foreign Exchange Earnings

HC Deb 18 June 1969 vol 785 c468

24. Mr. Blaker

asked the President of the Board of Trade what were the net foreign exchange earnings of the consulting engineering industry in 1968.

Mr. Dell

Information on these earnings is not available, but discussions are proceeding with the profession with a view to obtaining it.

Mr. Blaker

Will the Minister press ahead with these discussions in view of the recommendation of the Bland Committee in 1967 that the statistics for invisible earnings should be improved? Will he also investigate the import content of the earnings of this industry?

Mr. Dell

I will certainly press ahead. I note the hon. Gentleman's second point, and will see what information we can obtain.

25. Mr. Blaker

asked the President of the Board of Trade what were the net foreign exchange earnings of the insurance industry in 1968.

Mr. Crosland

The 1968 figures are not yet complete, but I expect the net earnings (including portfolio income) to exceed the £135 million recorded for 1967.

Mr. Blaker

Does the right hon. Gentleman recall that in 1967 the Bland Committee recommended that the Government should find ways of mitigating the impact of S.E.T. on service industries which made overseas earnings? Is not this a good case in point?

Mr. Crosland

I understand that this very matter has recently been discussed at length in Committee on the Finance Bill.