HL Deb 10 July 1969 vol 303 cc1179-80
LORD MACPHERSON OF DRUMOCHTER

My Lords, I beg leave to ask the Question which stands in my name on the Order P

[The Question was as follows:

To ask Her Majesty's Government—

  1. (1) what was the overall trading deficit for 1968;
  2. (2) the amount of Government overseas spending for that year;
  3. (3) the total income accruing from private invisible earnings for that year.]

LORD BESWICK

My Lords, the deficit on current balance for 1968 was £419 million; net Government overseas spending on current account was £462 million. This figure excludes official exports and imports, which cannot be separately identified, payments for United States military aircraft and net official payments of interest, figures of which will be published in the Pink Book on the Balance of Payments shortly. The total private invisible earnings were £403 million, excluding private net earnings of interest, profits and dividends, figures for which will also be published shortly.

LORD MACPHERSON OF DRUMOCHTER

My Lords, I should like to thank the Minister for that most helpful reply, and to put two supplementary questions to him. First, can the Minister say how much of the Government overseas spending was on overseas military aid? Secondly, would the Minister consider showing our monthly figures, of which everybody takes so much notice, in the kind of way in which he has answered my Question?

LORD BESWICK

My Lords, the overseas expenditure on military account was rather more than half of the total which I mentioned; namely, £244 million. As for the presentation of the accounts, there is a case for what the noble Lord suggests, and this is now being considered.

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