HC Deb 30 June 1992 vol 210 cc466-7W
Mr. Chris Smith

To ask the Chancellor of the Exchequer if, on the same basis as for the figures recorded in paragraph 3.47 of the Red Book, he will give the United Kingdom's estimated net overseas asset holdings in constant prices for each of the last six years; and what assessment he has made of the reasons for any fluctuations in their net value.

Mr. Nelson

The table shows the level of the United Kingdom's identified net external assets at recorded values and adjusted by the implied GDP deflator. The recorded values, as in column (a), are those quoted in the Red Book, paragraph 3.47, which updated the latest full estimates in the 1991 CSO Pink Book, and reflect market values for many assets and book values for direct investment. The recorded values of net assets can change for a number of reasons, including United Kingdom residents' investment overseas and overseas residents' investment in the United Kingdom, variations in asset prices both in the United Kingdom and abroad, exchange rate movements, and other valuation changes, eg write-offs.

Table 1—Net overseas assets (£ billion)
Level of identified net overseas assets (at year end)
Year (a) (b)
1986 104 101
1987 67 62
1988 81 70
1989 84 69
1990 20 15
1991 37 27
(a) Recorded values.
(b) Recorded values adjusted by changes in implied GDP deflator since 1985.

Sources: CSO, Pink Book 1991, FSBR, Economic Trends.

Back to