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External And Foreign Currency Finance

Volume 978: debated on Monday 11 February 1980

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asked the Chancellor of the Exchequer whether he will circulate in the Official Report figures showing the change in external and foreign currency finance in the five months prior to mid-June 1979 and the five months after, together with an explanation of the reason for the flows and the difference between the two periods.

The information can be obtained from able 7.3 of Financial Statistics. The change between the two periods may have reflected the effects of the relaxations of exchange controls announced in June and July and the abolition of the controls in October. In particular there seems to have been substantial repayments of foreign currency borrowing previously taken out to finance investment overseas.