§ 28. Mr. William Clark
asked the Chancellor of the Exchequer by how much the surplus on invisible exports is being offset by interest payments on overseas borrowings by: (a) central Government and (b) nationalised industries.
§ Mr. Robert Sheldon
The current invisibles surplus is about £360 million a quarter. The quarterly interest on foreign current borrowing by the Government is at present about £50 million, and by the nationalised industries about £70 million. These are approximate figures because some interest rates float and the cost depends also on the exchange rate.