| Code | DS/UK/238 |
| Corporate Name | Committee on Invisible Earnings |
| Dates | 1968 - 1983 |
| OtherFormsOfName | COIE |
| Activity | In 1966 the Financial Advisory Panel on Exports, City sponsor and fund-raiser for the British National Export Council (BNEC) set up a Subcommittee on Invisible Exports. Its report was published in 1967 - The Atlas Report, 'Britain's Invisible Earnings'. One of its recommendations was to set up a permanent organisation responsible for keeping a continuing watch on the whole field of invisibles with a view to suggesting means of further promoting invisible earnings at home and abroad'.
The Committee on Invisible Exports (COIE) was set up in 1968 by the Bank of England. The financial journalist William Clarke was the first Director General. P J Keogh represented the Bank with G de Moubray as alternate. The Governor of the Bank of England, with the BNEC and in consultation with the Treasury set up a new and permanent Committee on Invisible exports. Chaired by C H Kleinwort, the Secretariat (originally P G Vermulen) was provided by the Bank of England. It initially set up two sub-committees, one to study taxation problems and the other to look at promotions and public relations policy. The following enquiries were initiated:
a study of the role of international companies in London;
analysis of world trade in invisibles;
an enquiry into the sale of know-how overseas;
banks looking at ways in which exchange control affects their overseas earnings and a comparison of their rates with other centres in Europe and North America.
The COIE became the British Invisible Exports Council (BIEC) in 1983. The BIEC (registered as a company) became British Invisibles (BI) in 1990 and International Financial Services London (IFSL) in 2001.
The Committee was reconstituted in 1986 as an incorporated not-for profit company limited by guarantee. |
Show related catalogue records