asked the Chancellor of the Exchequer if he will give the average rate of investment in British industry by the life companies over the past five years and the similar rate of investment by workers' pension funds over the past five years.

The available information is set out in the table below. It relates to the investments of the long-term funds of insurance companies and pension funds in company securities. The life assurance business of insurance companies is carried on entirely through the long-term funds, together with a small amount of other business. The figures for pension funds relate to all independently funded occupational pension schemes. It should be noted that the net acquisition of compaiy securities by insurance companies and pension funds includes both subscriptions to new issues and transactions in existing securities; these two components cannot be separately distinguished. Also the figures for the long-term funds of insurance companies include a small element of investment in overseas company securities.