§ Mr. Ridleyasked the Chancellor of the Exchequer whether it is possible to estimate the size of the investment currency pool at a certain point in time; whether he will estimate the size of the pool at some convenient date in 1970, 1973 and 1976; and whether he will explain the principal factors which cause the pool to grow or shrink in value.
§ Mr. Robert SheldonThe so-called investment currency pool represents certain foreign currency assets privately owned by United Kingdom residents. By far the largest part consists of United Kingdom private investment overseas on portfolio account, for which inevitably very precarious estimates are contained in Table 11.1 of the publication "United Kingdom Balance of Payments 1966–76". The bulk of such investments would be likely under current rules to yield investment currency if sold. The value of these assets depends principally on the prices ruling on the relevant stock exchange.