§ 38. Captain W. Elliotasked the Chancellor of the Exchequer what is the estimated value of the United States securities held by British subjects and institutions in this country.
§ Mr. CallaghanTotal U.K. direct investment (other than oil, insurance and banking) at the end of 1965 was about £390 million at book value. Portfolio investments held by institutional investors are estimated to be about £900 million. I regret that I am not able to give a figure for private portfolio investors.
§ 39. Captain W. Elliotasked the Chancellor of the Exchequer what sum of money was realised by the sale of the British Government's United States securities.
§ Mr. CallaghanA total of about $1,375 million, which was reinvested in U.S. short-term securities.