§ Mr. Leeasked the Chancellor of the Exchequer what is the latest estimate in the second and third line reserves of the sterling area; and if he will undertake to make frequent and periodic revaluations of overseas portfolio investments and British-owned fixed assets overseas.
§ Mr. DellI am not sure what my hon. Friend has in mind in the first part of this Question. Valuations of United Kingdom private investments overseas are updated annually and given in annex 1 of the United Kingdom Balance of Payments—the Pink Book—the most recent volume of which covers 1972. Estimates for end-1973 were provided in
an inventory of United Kingdom external assets and liabilities: end-1973".in the Bank of England Quarterly Bulletin for June 1974. No separate estimates are available for overseas sterling countries.