§ LORD BYERSasked Her Majesty's Government:
What have been the average dollar receipts in the United Kingdom from United Kingdom investments in the United States of America and what have been the average United Kingdom remittances of sterling to the United States of America in respect of United States investments in the United Kingdom over the past five years.
§ LORD SHEPHERDOn average in the five years 1960–64, United Kingdom receipts of interest and of dividends remitted by United Kingdom subsidiary 951WA companies operating in the United States amounted to about £12½ million a year (excluding oil and, before 1963, insurance). In the same period, remittances abroad of interest and of dividends earned by United States subsidiary companies operating in the United Kingdom 952WA averaged about £58 million a year (excluding oil and insurance). It does not necessarily follow that the remittances were made in dollars and in sterling, respectively.
House adjourned at thirteen minutes before nine o'clock.