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Sterling Balances

Volume 436: debated on Thursday 24 April 1947

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asked the Chancellor of the Exchequer if he will, in future, include in the monthly statistics of exports, the total value of these exports that are made a against cancellation of sterling balances in this country.

No, Sir. This suggestion is totally impracticable.

Could not the Chancellor think of some alternative means whereby support can be given to the strong statement in his Budget speech about which very many people agree with him?

I am much obliged to the hon. Gentleman, and we will certainly consider what means we have to do that, but his principle is impracticable, as the hon. Gentleman will realise, because the figures which would be given would be the outcome of trade with all countries, and not only with the United Kingdom, and it also depends on capital movements, invisibles and other items.