§ Mr. Hooleyasked the Chancellor of the Exchequer (1) what were the totals of private investment capital in (a) land and property and (b) industry, which moved from EEC countries into the United Kingdom in 1973 and 1974;
(2) what were the totals of private investment capital in (a) land and property and (b) industry, which has moved from the United Kingdom to other EEC countries in 1973 and 1974.
§ Mr. Robert SheldonThe available information relates to the total of investment by parent companies in overseas affiliates—"direct investment". Preliminary estimates for 1973 indicate a range of £330 million-£410 million for United Kingdom outward direct investment in other EEC countries and around £50 million for inward direct investment from other EEC countries. These figures include direct investment in property owning and managing as well as in other industry and commerce, but the analysis of the totals for 1973 into these components will not be available until the spring of this year. The figures include reinvested profits and are net of disinvestment. Most outward investment other than reinvested profits is financed by borrowing overseas. Figures182W of portfolio and miscellaneous investment—which include other investment in land and property—and oil investment cannot at present be analysed so as to identify transactions with other EEC countries.