HL Deb 13 December 1967 vol 287 c1242WA
LORD BYERS

asked Her Majesty's Government:

The total annual overseas expenditure by the Government before devaluation on:

  1. (a) defence commitments,
  2. (b) development aid,
  3. (c) other obligations;
and how much this expenditure will be altered as a result of devaluation.

LORD BESWICK

Net Government overseas expenditure in 1966–67 (excluding exports and imports of military equipment, new borrowing by and repayments of loans to and by the United Kingdom, and interest on loans) totalled some £575 million, of which some £270 million was for defence, including military aid, and some £215 million for economic aid. The net effect of devaluation over the whole field cannot yet be assessed. In the case of defence, the Secretary of State said in the debate in another place on November 27, that the increase in defence overseas expenditure resulting from devaluation (including that on equipment) might be between about £25 million and £50 million, against the savings of over £100 million which he announced.

House adjourned at three minutes before nine o'clock.