§ Sir David Priceasked the Secretary of State for Transport what is his estimate of the current contribution of British shipping to the United Kingdom balance of payments; and how this compares with the equivalent figures in 1965 and 1975, respectively, measured in 1985 values.
§ Mr. David MitchellThe net contribution of the United Kingdom shipping industry to the sea transport account of the United Kingdom balance of payments is provisionally estimated to be £547 million in 1984. The table shows the equivalent figures for 1965 and 1975 both at current prices and at constant 1980 prices. The 1980 price figures have been calculated using published constant 1980 price indices as a basis. Constant price estimates are complicated to construct and 1985 price figures are not available. Care is required in any interpretation of a net balance expressed at constant prices.
Net contribution of the United Kingdom shipping industry to the balance of payments sea transport account £ million 1965 1975 1984 Current prices 130 539 547 Constant 1980 prices 89 1,128 591