HC Deb 02 May 1977 vol 931 cc81-2W
Mr. Ridley

asked the Chancellor of the Exchequer what estimate he has made of the capital which came to the United Kingdom, both long term and short term,

1964–65 1966–67 1970–71 1974–75
£ £ £ £
Parliamentary salary* … … … … 3,250 3,250 3,250 4,500
Gross income†required in 1977–78 to give a net income-after-tax equivalent at March 1977 prices to that received in each year shown above
Single person … … … … 12,130 10,349 7,972 7,062
Married couple … … … … 11,860 10,159 7,905 7,013
with one child … … … … 11,836 10,185 7,926 7,073
with two children … … … … 11,924 10,289 8,004 7,167
with three children … … … … 12,042 10,415 8,096 7,268
* The annual salary payable for the year, except for 1964–65 where the salary is that which came into force on 16th October 1964.
† Gross income includes child benefit where appropriate.

private and public, from oil-producing States of the Middle East, during the last financial year.

Mr. Denzil Davies

The precise information requested is not available, but the following information is available for the calendar year 1976. During 1976, oil exporting countries* as a whole reduced their exchange reserves held in sterling by about £1,400 million, and increased their other holdings of sterling by about £30 million. Their net deposits of foreign currency with United Kingdom banks increased by nearly £4,000 million, though a substantial part of this increase is due to revaluation changes resulting from the depreciation of sterling during 1976. Figures of direct and portfolio investment, and other capital flows are not available for individual countries or groups of countries.

* The Middle Eastern oil States and Algeria, Ecuador, Gabon, Indonesia, Libya, Nigeria, Trinidad and Tobago, and Venezuela.