§ Sir G. JONESasked the Chancellor of the Exchequer how much money has been invested abroad during each of the last five years for which figures may be avail- 2412W able by residents in Great Britain; and how much money was similarly so invested in each of the five years before the War?
§ Mr. PETHICK-LAWRENCEThe only available data as regards investment abroad are the figures of public capital issues. These figures are not complete and may be misleading, as they do not take account of short-term borrowing and lending and the purchase or sale of existing securities through the markets. Moreover, the new issues are not necessarily subscribed wholly by British capital but may, and to some extent certainly do, attract foreign subscriptions, while British capital may be attracted to some issues made abroad. Caution should, therefore, be exercised in making any deductions from these figures. Subject to this qualification, the figures of capital issues for the years named, as compiled by the "Economist," are as follow:
— Colonial and Dominion. Foreign. Total. £ million. £ million. £ million. 1909 74.8 88.9 163.7 1910 92.4 114.8 207.2 1911 65.0 106.6 171.6 1912 72.6 92.9 165.5 1913 76.1 84.4 160.5 Average for 5 years 1909–13. 76.2 97.5 173.7 1925 60.9 16.3 77.2 1926 53.2 48.4 101.6 1927 99.8 48.5 148.3 1928 63.2 42.3 105.5 1929 61.0 26.3 87.3 Average for 5 years1925–29. 67.6 36.4 104.0