Biography Chronology Home Search Speeches/Statements

1987-1990 - Mr Major’s Written Parliamentary Answer on Overseas Assets

Below is the text of Mr Major's written Parliamentary Answer on Overseas Assets on 26th January 1989.


Mr. Bowis To ask the Chancellor of the Exchequer what is his latest estimate of the stock of United Kingdom net overseas assets.

Mr. Jacques Arnold To ask the Chancellor of the Exchequer what is his latest estimate of the stock of United Kingdom net overseas assets.

Mr. Beaumont-Dark To ask the Chancellor of the Exchequer what is his latest estimate of the stock of United Kingdom net overseas assets.

Dr. Twinn To ask the Chancellor of the Exchequer what is his latest estimate of the stock of United Kingdom net overseas assets.

Mr. Major At the end of 1987, the United Kingdom net stock of overseas assets was worth £89½ billion, about one fifth of GDP. These assets generated earnings of £5½ billion in 1987. The United Kingdom net stock of assets was the second highest in the world behind Japan. Figures for 1988 are not yet available.