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Economic Situation: British Overseas Territories

Question for Foreign, Commonwealth and Development Office

UIN 144846, tabled on 22 March 2022

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, whether she has made a recent estimate of the economic value of the Overseas Territories to the UK economy.

Answered on

30 March 2022

The Overseas Territories are a valued part of the British Family and the UK Government is committed to supporting the Territories in building successful and resilient economies. The Territories offer the UK: access and insights into diverse regions of the world; strategic assets, including military bases hosted by some Territories; economic opportunities for UK companies, including for financial sector specialists; protection of internationally important habitats, helping the UK meet its pledge to protect 30% of the world's oceans by 2030 (together we represent the world's fifth largest marine state); and talent and diversity, with the people of the Territories contributing their skills to UK businesses, universities, and Armed Forces. The UK has not made a recent quantitative estimate of the economic value of the Overseas Territories to the UK economy, but we continue to support the Territories build vibrant and sustainable economies, including through encouraging greater links to the UK economy.