§ Mr. Ridleyasked the Prime Minister what has been the total annual rate of transfer of capital by immigrants from the United Kingdom to countries outside the sterling area; and by how much the new control is expected to reduce it.
§ Mr. MacDermotI have been asked to reply. In 1965 £14 million was transferred over the official exchange and a further £25 million was blocked and available for transfer through the security sterling market. As to the second part of the Question, I would refer to the Answer given to the hon. Member for Oswestry (Mr. Biffen) today.
§ Mr. Ridleyasked the Prime Minister what has been the total outflow across the exchanges by means of cash gifts; and by how much he expects to reduce it by the new control.
§ Mr. MacDermotI have been asked to reply. In 1965 Exchange Control approvals totalled £8.7 million. As for the second part of the Question, I would refer to the Answer given to the hon. Member for Oswestry (Mr. Biffen) today.
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