HC Deb 10 May 1951 vol 487 cc246-7W
57. Mr. Osborne

asked the Chancellor of the Exchequer how much lower than the £235,000,000 for the first quarter of this year our adverse visible balance of trade would be if allowances were made for imports being c.i.f. and exports f.o.b.; and how much would this adjusted figure be adversely reflected in his calculation of our invisible exports.

Mr. Jay

A detailed analysis of our balance of payments position, with imports valued f.o.b., is made half-yearly. No reliable figures are available quarterly, but I would refer to my right hon. Friend's replies to the hon. Member on 1st May on the same subject.

So far as the second part of the Question is concerned, the larger part of our imports is carried in United Kingdom-owned ships, and no charge on our balance of payments is involved in paying this freight. Freight paid to foreign shipowners is already included as one of the components of our "invisibles."

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