§ 25. Mr. Prenticeasked the Minister of Overseas Development whether she is satisfied as to the accuracy of the previous official figures showing that the flow of resources from Great Britain to developing countries in 1968 was less than 083 per cent. of the gross national product; and what is the latest estimate of the percentage.
§ Mrs. HartThe figures previously given require amendment for 1967 and 1968 mainly because of later information about private investment and guaranteed private export credits. The latest estimate of total flows for 1968 is 0.75 per cent. The full revised figures will be circulated in the OFFICIAL REPORT.
§ Mr. PrenticeDoes not my right hon. Friend agree that this shows a much lower percentage for 1968 than we previously thought? In view of that, does it not strengthen the case for a growing programme of official aid in the years immediately ahead to make good the larger gap now existing between our performance and the 1 per cent. target?
§ Mrs. HartI agree with my right hon. Friend, of course, and I am sorry that I cannot enter into a fuller discussion because, as I have said, I expect to make a statement later this afternoon.
§ Mr. BraineDoes the right hon. Lady also agree that this decline in private investment overseas calls, as Pearson recommends, for a new look at insurance against non-commercial risks? If other development countries find it to their advantage to embark upon such schemes, why does not this country?
§ Mrs. HartThis is very much a question not for me but for one of my colleagues. Certainly I am ready to consider this in conjunction with him.
§ Following is the information:
| REVISED FIGURES OF OVERSEAS AID FOR 1967 AND 1968 | ||
| (the figures in brackets were given in an answer in an answer to my hon. Friend the Member for Portsmouth, West (Mr. Judd) on 5th May, 1969)—Vol. 783. c. 6–8. | ||
| 1967 | 1968 | |
| £ million | £ million | |
| Official Flows Cross | 208.4 | 210.6 |
| (208.4) | (210.2) | |
| Amortisation | 29.4 | 32.2 |
| (29.4) | (32.1) | |
| Total Net of Amortisation | 179.0 | 178.5 |
| (179.0) | (178.1) | |
| Private Flows | ||
| Private Investment (net of disinvestment) | 75.0 | 79.0 |
| (83.0) | (95.0) | |
| Guaranteed Private Export Credits | 64.4 | 63.1 |
| (40.5) | (78.9) | |
| 139.4 | 142.1 | |
| (123.5) | (173.9) | |
| Total Official and Private Flows (net) | 318.4 | 320.6 |
| (302.5) | (352.0) | |
| GNP | 40.140 | 42.899 |
| (39.870) | (42.547) | |
| Percentages | ||
| Official Flow | 0.45 | 0.42 |
| (0.45) | (0.42) | |
| Private Flow | 0.35 | 0.33 |
| (0.31) | (0.41) | |
| Total Flow | 0.79 | 0.75 |
| (0.76) | (0.83) |