HC Deb 23 January 1973 vol 849 c68W
Miss Quennell

asked the Chancellor of the Exchequer what is the total of United Kingdom investment overseas now; what annual income is received from it; and what relationship the total has as a percentage of the gross national product.

Mr. Nott

The total value of identified United Kingdom external assets at the end of 1971, the latest date for which a figure is available, was £23,785 million. Interest, profits and dividends received on overseas investments in 1971 amounted to £1,420 million. Gross national product, at factor cost, in 1971 was £48,216 million; it is not meaningful to express the total value of external assets as a percentage of the gross national product.

Miss Quennell

asked the Chancellor of the Exchequer what percentage of the surplus on the United Kingdom invisible account for 1972 was derived from interest received on United Kingdom overseas investments.

Mr. Nott

Total receipts seasonally adjusted on the United Kingdom invisible account for the first three quarters of 1972 were £4,267 million, of which total receipts in the form of interest, profits and dividends on overseas investments amounted to £1,084 million (25 per cent.). The net surplus on the invisible account seasonally adjusted for the same period, was £496 million, of which the net surplus of interest, profits and dividends was £292 million (59 per cent.). Figures for the whole of 1972 will be published in the March 1973 issue of "Economic Trends".