Mr. H. Wilsonasked the Chancellor of the Exchequer by how much he estimates higher interest rates in the United Kingdom affected the net overseas earnings, or outgoings, on interest account of the United Kingdom in 1960. compared with 1959.
§ Mr. BarberAvailable figures for payments of interest, profits and dividends as defined in Balance of Payments White Papers do not distinguish interest payments separately. It is estimated however that the fall of £23 million in estimated net receipts for interest, profits and dividends as a whole in the first nine months of 1960 as compared with the same period in 1959 was largely due to higher interest rates.