§ Mr. Steenasked the Chancellor of the Exchequer what is his estimate of the total annual sum currently being sent out of the United Kingdom annually in the form of public and private aid and investment.
§ Mr. Lawson[pursuant to his reply, 21 July 1980, c. 32]: Total net flows to developing countries in 1979 were as follows:
£ million Official development assistance 974 Other official flows 64 — Total official flows 1038 Flows from voluntary agencies 27 Direct investment and sterling portfolio investment 748 Foreign currency lending 2975 — Total flows (excluding private export credits). 4788 Notes
- (i) figures for private export credit are not yet available.
- (ii) the figure for official development assistance is on the new DAC basis, which covers the deposit of promissory notes rather than their encashment.
Total United Kingdom private investment overseas in 1979 was as follows:
£ million Direct investment overseas 2807 Portfolio investment overseas Oil companies and other 867 miscellaneous investment 2460 — 6134 Further details of these and other flows are given in Economic Trends for June 1980, and in the United Kingdom Balance of Payments 1979 edition (the "Pink Book").