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Balance Of Payments

Volume 173: debated on Tuesday 5 June 1990

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To ask the Chancellor of the Exchequer what is his latest estimate of the deficit on the basic balance of the balance of payments.

The available information on the United Kingdom balance of payments, covering both the current account and the main categories of financial transactions in the capital account, is published in the Central Statistical Office's quarterly press notice on the balance of payments and in Economic Trends, both of which are available in the Library. The concept of a basic balance is not particularly meaningful.

To ask the Chancellor of the Exchequer what is the total private sector deficit accumulated since 1979 because of trade imbalance on the balance of payments.

Figures relating to the private sector and public corporations in respect of the balance of invisibles are published in tables A4 (trade in services and investment income) and A7 (transfers) of Economic Trends, March 1990 (pages 82 and 87), which is available in the Library. With the exception of defence equipment (mainly imported), most of visible trade (table A2 of the above publication) is undertaken mainly by the private sector and public corporations.