§ LORD BROCKWAYMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ The Question was as follows:
§ To ask Her Majesty's Government what, in the last recorded year, was the amount of private financial investment in developing countries from British sources and what, in the same year, was the total amount received in profit, interest and dividend from developing countries by such investors.
THE LORD PRIVY SEAL (EARL JELLICOE)My Lords, it is provisionally estimated that in 1971 £163 million was invested by the United Kingdom private sector in developing countries. Information on remittances of interest, profits and dividends is not sufficiently complete to make an accurate estimate.
§ LORD BROCKWAYMy Lords, while thanking the noble Earl, may I ask whether an investigation can be made, because the estimates in many surveys have been that twice or three times as much is received in profit, dividend and interest as the total aid which we give? Is this not very important in a judgment of the situation?
EARL JELLICOEMy Lords, this would be extremely difficult, but I should be willing to look into it in conjunction with my right honourable friend the Chancellor of the Exchequer.
§ LORD BROCKWAYMy Lords, I thank the noble Earl very much.