HC Deb 27 May 1976 vol 912 c322W
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.

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