§ Mr. Rowland
asked the Chancellor of the Exchequer if he will give the size of foreign and Commonwealth investment in Great Britain, the trading profits accruing from these investments in the last recorded year, the tax paid on these profits to the British Government, and the sum reinvested in Great Britain from after-tax profits.
§ Mr. Callaghan
The following is the information available. It relates to overseas direct investment in the United Kingdom, excluding investment by oil and insurance companies.
£ million Commonwealth Countries Other Countries Net book value of direct investments in the U.K. at end 1962* 155 1,345 Total earnings, net of U.K. tax, 1963 13 155 Re-invested profits, 1963 8 82 * Excludes also banking investments.
Figures of gross earnings and of United Kingdom tax paid are not available, but the tax may be approximately estimated as a little under one half of gross earnings or, consequently, a little less than the figures of net earnings given above.