To ask the Chancellor of the Exchequer what is the current level of total overseas private investment; and what was the level in 1979 expressed at current prices.

[holding answer 20 February 1992]: The estimated level of United Kingdom residents' identified direct investment (at book values) and portfolio investment (at market values), excluding public corporations' direct investment overseas, was £312 billion at the end of 1990. The corresponding figure at the end of 1979 was £44 billion (at end-1979 values) or £74 billion (at end-1990 values). Figures for 1991 are not yet available.