asked the Chancellor of the Exchequer if his circular to British industry requesting firms not to export capital applies equally to the export of machinery plant to subsidiaries abroad, or whether it is his policy to continue to regard such exports as desirable; and if he will make a statement.

The Voluntary Programme applies to overseas investments over £25,000 in the form of exports of machinery or plant free of payment. Firms are asked to confine such investments in the countries concerned to those which meet the criterion of early, substantial and continuing benefit to the United Kingdom balance of payments.