§ 13. Mr. David Mitchellasked the Chancellor of the Exchequer whether he is satisfied that the level of retained profits in United Kingdom industry is sufficient to enable industry to have adequate reserves to invest in renewal and modernisation and to finance expansion.
§ Mr. HealeyI am satisfied that, in general, investment by United Kingdom
UNITED KINGDOM PRIVATE INVESTMENT OVERSEAS* 1973 1974 1975 1976 1977 Direct† … … 1,621 1,575 1,094 2,109 1,863 Portfolio … … -293 -755 49 -169 -57 Oil and Miscellaneous … … 520 329 240 391 345 Total … … 1,848 1,149 1,383 2,331 2,151 * Net of disinvestment. † Excluding transaction of oil companies, but including investment by a number of public corporations. - Represents a net disinvestment.