§ Mr. Maurice Macmillanasked the President of the Board of Trade what was the effect on the visible and invisible accounts for October of financial repayments and interest payments for the purchase of United States military aircraft.
§ Mr. TaverneI have been asked to reply.
Payments to the United States manufacturers—included in the visible balance but not in the "visible trade balance" were £4 million in October. Interest due to the U.S. Exim Bank has been running at £1 million a month in recent months and is allowed for in the estimate of the recent level of the surplus on invisibles. Capital repayments to the U.S. Exim Bank are not part of the visibles or invisibles accounts but form part of the long-term capital account.