Below is the text of Mr Major’s written Parliamentary Answer on Overseas Assets on 7th December 1988.
Mr. Yeo To ask the Chancellor of the Exchequer what are the latest figures for the stock of net overseas assets.
Mr. Major At the end of 1987 the United Kingdom’s net stock of overseas assets was worth £89.5 billion, or 21 per cent. of GDP. These assets generated earnings of £5.5 billion in 1987. The surplus on invisibles in 1986 and 1987 was the largest in the world.