Below is the text of Mr Major’s written Parliamentary Answer on Net Overseas Assets on 22nd July 1988.
Mr. Chris Smith To ask the Chancellor of the Exchequer if, further to his reply of 13 July, Official Report, column 198, to the hon. Member for Birmingham, Northfield (Mr. King) he will estimate the sterling value of the United Kingdom’s net overseas assets at (a) 30 June 1987 and (b) at the latest date for which figures are available.
Mr. Major Estimates of the value of the United Kingdom’s net overseas assets are available only for the end of each year. The latest CSO Pink book (United Kingdom Balance of Payments), published in August 1987, included a figure for the end-1986 of £114.4 billion. The 1988–89 Financial Statement and Budget Report included a provisional estimate for end-1987 of some £90 billion.