§ Mr. Kenneth Bakerasked the Chancellor of the Exchequer how much of the overseas private investment by the United Kingdom, shown in Table 20 of Command Paper No. 4328, was financed by overseas borrowing in each of the years 1964 to 1969.
§ Mr. Taverne:In the years 1964 to 1969 the net amount of overseas borrowing to finance private investment abroad is estimated as follows:
… … … … £ million 1964 … … … … 46 1965 … … … … 77 1966 … … … … 41 1967 … … … … 138 1968 … … … … 257 1969 … … … … 145 Borrowing in any period is not necessarily applied to the financing of investment in that period and there has been some growth in recent years in the temporary application of borrowed funds in short-term form. These amounts cannot be estimated directly, but were substantial in 1969, as indicated in Economic Trends for March, 1970 (pages xvii and xviii).