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Sterling Balances

Volume 440: debated on Thursday 17 July 1947

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asked the Chancellor of the Exchequer what is the balance of payments as between the United Kingdom and Australia at the present time.

On current accou:at the United Kingdom surplus with Australia was about £20 million in 1946 and is expected to be about £10 million in 1947. This excludes payments arising from the war or from transactions in wool not for United Kingdom consumption. Australia has a surplus on current account if her trade with all countries is brought into the reckoning.