§ Mr. Denzil Daviesasked the Chancellor of the Exchequer (1) what was the total value of annual investment in the United Kingdom by residents of the six original members of the EEC in 1970, 1971 and 1972, respectively;
(2) what was the total value of, respectively, direct and portfolio investment by residents of the United Kingdom in the six original members of the E1EC in 1970, 1971 and 1972.
407W
§ Mr. NottWith the qualifications given in the answer to the right hon.
£ million Investment by the EEC in the United Kingdom and vice versa 1970 1971 1972 To United Kingdom— direct (excluding oil and insurance) … … 51 33 35† portfolio* … … 33 108 150 From United Kingdom— direct (excluding oil) … … 71 244 200† portfolio … … 22 50 250 * Including company issues abroad, not all of which may have been raised in the EEC. † Provisional estimates. Most of the outward investment was financed either by foreign currency borrowing or from reinvested profits.