Foreign-owned Companies

HC Deb 13 February 1975 vol 886 c183W

Mr. Hoyle

asked the Chancellor of the Exchequer what proportion of the profits of foreign-owned companies is retained in the United Kingdom.

Mr. Deakins

I have been asked to reply.

The proportion of profits retained in the United Kingdom by subsidiaries and associates directly affiliated to foreign companies excluding oil and insurance has varied from year to year; over the four years 1970 to 1973 it averaged about theree-fifths. Dividends remitted and un-remitted profits of subsidiaries and associates of foreign companies were published in Table 20 of United Kingdom Balance of Payments 1963–73 and further detail was published in Table 11 of Business Monitor M4, Overseas Transactions, a copy of which is in the Library.