Balance of Payments

HC Deb 20 March 1974 vol 870 c125W

Mr. Spriggs

asked the Chancellor of the Exchequer what was the balance of payments position in June 1970 and in February 1974.

Mr. Dell

In the second quarter of 1970, there was a visible trade deficit of £46 million, offset by an invisible trade surplus of £182 million, giving an overall surplus on current account of £136 million, all seasonally adjusted. Net investment and other capital flows amounted to £125 million, not seasonally adjusted, and there was a negative balancing item of £60 million. These figures are published in Table 1 of the appendix to the December 1973 issue of Economic Trends. Comparable figures for February 1974 are not yet available.