§ Mr. Leeasked the Secretary of State for Trade what is the total value of privately-owned capital exported to other EEC countries since Great Britain joined the Community; how much of that capital is estimated to have been invested in commercial enterprises competing with British industry; how much has been invested in foreign-based property companies; and if he will make a statement.
§ Mr. DeakinsThe information available relates only to the amount of direct investment in 1973; portfolio, oil and miscellaneous investment, including identified investment in real estate, are not covered. The industrial distribution of550W United Kingdom net direct investment in the EEC in 1973 is given in Table 19 of the Biusiness Minitor M4, Overseas Transactions 1973, a copy of which is in the Library. Direct investment comprises investment by United Kingdom companies in their overseas branches, subsidiaries and associates and it is not possible to give an estimate of investment in commercial enterprises competing with British industry. For the information available on the financing of net direct investment in the EEC in 1973 I refer my hon. Friend to the answer my right hon. Friend gave on 2nd May to my hon. Friend the Member for Farnworth (Mr. Roper).—[Vol. 891, c. 284–5.]