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United Nations Reconstruction Banks

Volume 393: debated on Tuesday 9 November 1943

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asked the Chancellor of the Exchequer whether he now has any statement to make with regard to the United Nations Reconstruction Bank, in view of the fact that the draft proposals have been at the Treasury for some months and that the final proposal was received by his Department nearly a month ago?

The hon. Member is misinformed. It was only recently that we received anything that could properly be described as a draft proposal, and it was made clear to us that this was not to be regarded as an authoritative proposal from the United States Treasury. The proposal in its present form is under consideration, but I am not in a position to make a statement at present.

Am I wrong in saying that certain papers were received and overtures made in the early months of this year? I made a careful check of this.

The hon. Member is quite wrong. Certain material was published, of which in fact my predecessor had no cognisance, which did not represent any authentic contacts, and it is only, as I have said, quite recently that anything in the nature of a draft proposal—that not binding in any way on the American authorities—was communicated to my Department.

My right hon. Friend said that it is not binding on the American authorities; can he say also that it is not binding on our own?