Below is the text of Mr Major’s written Parliamentary Answer on Overseas Assets on 9th July 1987.
Mr. Quentin Davies Asked the Chancellor of the Exchequer if he will make a statement on the present level of net United Kingdom assets overseas.
Mr. Hannam Asked the Chancellor of the Exchequer if he will make a statement on the present level of net United Kingdom assets overseas.
Mr. Major Net United Kingdom overseas assets are estimated to have increased from about £80 billion at the end of 1985 to about £110 billion at the end of 1986. This is equivalent to 28 per cent. of GDP, the highest recorded level since the war.