Skip to main content

Eec Countries

Volume 885: debated on Wednesday 5 February 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Secretary of State for Trade what was the net direct outward investment financed by a net outflow of funds from the United Kingdom for property development, manufacturing industry and other purposes, respectively, to each of the Common Market countries each year since 1960 to the latest convenient date.

I regret that this information is not available. The only information available on the financing of that part of direct investment abroad involving cash transactions relates to all non-sterling countries and is shown in Table 47 of the "United Kingdom Balance of Payments 1963–73". This shows that finance for direct investment abroad may be obtained in a number of ways which do not directly affect United Kingdom reserves and sterling liabilities.

asked the Secretary of State for Trade (1) what is the direct inflow of funds arising from profits from British investments in property development, manufacturing industry and other purposes, respectively, in each of the Common Market countries, each year since 1960 to the latest convenient date;(2) what is the amount invested in each of the Common Market countries in property development, manufacturing industry and other purposes, respectively, derived from profits arising from British investment in each of those countries each year since 1960 to the latest convenient date.

The information available is given in the following table. It relates to investment from unremitted profits and to remitted profits for net outward direct investment, excluding oil. Branch profits, whether remitted or not, are included in remitted profits. The information has been compiled from the annual overseas transactions inquiry of the Department of Industry:

NET OUTWARD DIRECT INVESTMENT*: UNREMITTED PROFITS AND REMITTED PROFITS†
£ million
1960196119621963196419651966196719681969197019711972
Belgium and Luxembourg:
Unremitted profits-0·3-0·30·60·1-5·7-2·00·81·612·413·15·311·715·7
Manufacturing industries10·911·32·28·710·5
All other industries†1·51·83·13·05·2
Remitted profits1·01·72·82·93·13·03·02·53·44·99·94·610·7
Manufacturing industries0·80·66·61·84·4
All other industries‡2·64·33·32·86·3
Denmark:
Unremitted profits0·10·1-0·30·2-0·2-0·30·4-0·1-0·30·60·22·0
Manufacturing industries-0·1-0·10·3-0·20·4
All other industries‡-0·20·30·41·6
Remitted profits0·30·30·30·40·20·10·30·30·20·20·30·70·7
Manufacturing industries0·10·10·20·4
All other industries‡0·20·10·20·50·3
France:
Unremitted profits0·51·2-0·22·72·81·33·22·66·07·610·812·620·6
Manufacturing industries1·32·84·34·611·0
All other industries‡4·74·86·58·09·6
Remitted profits1·71·92·12·51·62·12·13·44·34·68·18·613·6
Manufacturing industries2·52·84·23·97·8
All other industries‡1·81·83·34·75·8
Irish Republic:
Unremitted profits1·03·03·63·34·06·33·04·16·06·85·911·811·1
Manufacturing industries4·55·66·09·310·0
All other industries‡1·51·2-0·12·51·1
Remitted profits6·26·36·27·34·74·06·16·36·98·48·17·910·5
Manufacturing industries3·64·00·84·36·3
All other industries‡3·34·47·33·64·2

£ million

1960

1961

1962

1963

1964

1965

1966

1967

1968

1969

1970

1971

1972

Italy:
Unremitted profits-0·50·1-1·9-2·2-3·1-0·51·22·91·61·83·7
Manufacturing industries0·61·72·51·83·8
All other industries‡0·61·2-0·9-0·1
Remitted profits0·71·31·51·21·71·51·71·92·43·65·53·47·4
Manufacturing industries2·23·02·82·73·7
All other industries‡0·20·62·70·73·7
Netherlands:
Unremitted profits0·71·41·11·25·21·91·01·86·89·817·315·224·4
Manufacturing industries2·08·213·77·319·9
All other industries‡4·81·63·67·94·5
Remitted profits0·90·91·00·7-4·30·81·00·70·50·53·56·29·5
Manufacturing industries0·70·13·12·67·8
All other industries‡-0·20·40·43·61·7
Federal Republic of Germany:
Unremitted profits3·87·27·75·90·34·73·11·117·221·312·016·610·8
Manufacturing industries15·117·113·013·03·3
All other industries‡2·14·2-1·03·67·5
Remitted profits6·74·44·86·011·36·49·49·110·815·026·722·832·4
Manufacturing industries7·29·613·916·020·8
All other industries3·65·412·86·811·6

* Excluding oil and before 1963 insurance.

† Includes branch profits whether remitted to the United Kingdom or not.
‡ Property owning and managing was distinguished separately for the first time in 1972.
The figures (in £ millions) for investment from unremitted profits are:
Belgium and Luxembourg 0·3; France -0·2; Irish Republic 0·1; Netherlands 0·1; and for remitted profits:
Irish Republic 0·2; Netherlands 0·1.
The figures for investment from unremitted profits and for remitted profits for other countries are nil.

asked the Secretary of State for Trade what was the increase in British exports to other members of the EEC between 1972 and 1974.