§ 55. Sir G. Sinclairasked the Chancellor of the Exchequer, in view of the fall of British private investment, in the year since the Voluntary Programme began, from some £50 million to about £33 million in Australia and from £.11½ million to £0.7 million in New Zealand, if he will now, in accordance with his undertaking on 25th May 1966, make a statement on the working of this measure.
§ Mr. Roy Jenkins:The Voluntary Programme has been running for some nineteen months. During that period it has produced a useful saving to our balance of payments. I pay tribute to the co-operation both of the companies concerned with direct investments covered by 348W the Programme, and also to that of the institutions in the field of portfolio investment.