§ 18. Mr. John Spellar
asked the Chancellor of the Exchequer what has been the total outflow of capital from the United Kingdom since exchange controls were abolished in 1979, to the latest available date.
§ Mr. Hayhoe
The net capital outflow from the United Kingdom between 1979 Q4 and 1982 Q3, the last quarter for which complete balance of payments figures are available, was the counterpart to the £11.5 billion current account surplus earned over the same period. After allowing for an unidentified balancing item of £2.5 billion, the total identified net private and official capital outflow over this period was £9 billion.
The net capital outflow is the balance between larger capital flows in both directions including £8 billion of United Kingdom investment overseas in the first three quarters of 1982.