§ Mr. N. Nicolsonasked the Chancellor of the Exchequer if he will state the destinations by countries of the overseas investments in the years 1956, 1957 and the first half of 1958, as summarised in the Bulletin for Industry of November, 1958; and how the investments for each year were divided between Government and private investments.
§ Mr. ErrollI regret that estimates of the destination by countries of private overseas investments are not available. The only division that can be made is44W between private investment in the sterling area and private investment in the non-sterling area. Estimates of these amounts are given in Tables 2 and 3 of the White Paper on the United Kingdom Balance of Payments 1955 to 1958 (Cmnd. 540) published in October, 1958.
Full information is available on Government loans; in respect of the years 1956 and 1957 this is set out in Tables 16 and 17 of the recently published volume on the United Kingdom Balance of Payments, 1946–1957.
The following table shows loans to and by the United Kingdom Government in the first half of 1958.
INTER-GOVERNMENT LOANS IN 1958, FIRST HALF (-=outflow from United Kingdom) £ million Loans by the United Kingdom (New loans-, repayments+) Rest of Sterling Area: Australia -1 Non-Sterling Countries Denmark: E.P.U. funding of existing resources +1 Greece: currency stabilisation +2 Turkey: armaments credits, etc. +2 Poland: war and post-war advances +1 U.S.S.R.: war and post-war advances +2 Yugoslavia: E.C.G.D. credit (from 1950) +1 Loans to the United Kingdom (Repayments-) Rest of Sterling Area: India: Pensions and railway annuities -16 Non-Sterling Countries: Canada: Interest-free loan -6 Total -14