§ Mr. Gouldasked the Chancellor of the Exchequer what has been the level of United States investment in manufacturing in the United Kingdom in each of the past three years; and what information he has as to the level of United States investment in manufacturing in the rest of the European Community and United Kingdom investment in manufacturing overseas during the same period.
§ Mr. Alexander FletcherI have been asked to reply.
The latest information published by the United States Department of Commerce in its survey of current business, August 1982, is as follows:
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United States net flows of direct investment overseas in manufacturing United States $ million United Kingdom Rest of Economic Community* 1979 1,908 2,264 1980 2,397 2,883 1981 -550 576 * Greece included from 1981. This investment is net of loans from overseas subsidiaries to their United States parent companies. In 1981 United Kingdom subsidiaries loaned their United States parents at least $1 billion. Excluding these loans the United Kingdom received at least one third of United States direct investment in manufacturing in the European Community in 1981.
The latest statistics of United Kingdom direct investment overseas in manufacturing are published in table 3 on page 286 of British Business 13 May 1983, a copy of which is in the Library.