§ Mr. Hooleyasked the Secretary of State for Trade what was the gross amount remitted from South Africa to the United Kingdom arising out of British corporate assets in South Africa for each of the last five years.
§ Mr. Clinton DavisThe information available relates to receipts of interest and dividends from the direct investment by United Kingdom companies, other than oil companies, in subsidiaries and associates in South Africa and the total net profits from their direct investment in branches in South Africa. This amounted to £56 million in 1973, £70 million in 1974, and £87 million in 1975, the latest year for which information is available.
§ Mr. Hooleyasked the Secretary of State for Trade if he will list the total value of imports from and exports to South Africa for each of the last five years.
§ Mr. Clinton DavisFollowing is the information:
Imports (£ million c.i.f.) Exports (£ million f.o.b.) 1973 … 401.2 374.3 1974 … 558.4 530.9 1975 … 632.6 690.0 1976 … 614.8 653.2 1977 … 879.8 581.1
§ Mr. Hooleyasked the Secretary of State for Trade what was the gross value of official British aid or relief to promotional organisations and companies wishing to invest in or trade with South Africa for each of the last five years.
§ Mr. Clinton DavisBOTB direct expenditure on the promotion of exports to South Africa by way of support for participation in trade fairs, assistance to outward and inward collective missions, export marketing research, etc. has been as follows:
£000 1973–74 (estimated) … … 246 1974–75 (actual) … … 288 1975–76 (actual) … … 242 1976–77 (actual) … … 260 1977–78 (estimated) … … 228 (representing about 1.3 per cent. of the world total). There is no direct expenditure designed to promote investment in South Africa. 307W Companies operating there are subject to the same tax and exchange control arrangements as apply to overseas investment elsewhere.
§ Mr. Hooleyasked the Secretary of State for Trade what has been the level of new British capital investment in
£ million 1973 1974 1975 Direct investment other than unremitted profits of South African subsidiaries and associates of United Kingdom companies -19 35 29 Unremitted profits of South African subsidiaries and associates of United Kingdom companies 105 143 124 Total direct investment 86 178 153
§ Mr. Hooleyasked the Secretary of State for Trade what is the value in total of British corporate assets in South Africa.
§ Mr. Clinton DavisThe total book value of British investments, both direct and indirect, in South Africa, including South West Africa, as estimated by the Reserve Bank of South Africa was £4,817 million at the end of 1976.