§ Mr. Deakinsasked the Chancellor of the Exchequer what is meant by the reference to measures necessary to freeze the yield of excess tax revenue or of loans in Article 7 of the draft EEC directive concerning stability, growth and full employment.
§ Mr. Tom BoardmanArticle 7 of the draft EEC directive concerning stability,
318W
INVESTMENTS MADE BY CERTAIN FINANCIAL INSTITUTIONS (Analysed by type of investment) 1961 1962 1963 1964 Pension funds* Total investment £m.† … … … 120 132 359 378 Percentage invested in: Preference and ordinary shares … … … 51 51 60 56 British Government securities … … … 6 17 −4 1 Land property and ground rents … … … 5 5 2 8 Other … … … 38 27 42 35 Life assurance Total investment £m.† … … … N/A N/A 586 631 Percentage invested in: Preference and ordinary shares … … … N/A N/A 24 25 British government securities … … … N/A N/A 19 14 Land property and ground rents … … … N/A N/A 10 9 Other … … … N/A N/A 47 52 announced on 17th December 1973. The figures are as follows:
growth and full employment—8th January, R / 24/74(FIN8)—implies, in relation to the United Kingdom financial system, arrangements whereby the authorities can ensure that the proceeds of a Budget surplus or long-term borrowing may be reflected in the change in the reserve base of the banking system. This requirement is already met by the current institutional arrangements in the United Kingdom.