asked the Chancellor of the Exchequer if he will show in detail how he anticipates that the subsidies on food would have risen from £485 million in 1948–49 to £568 million in 1949–50.
Following is the answer:balance of payments with the Western Hemisphere was due to receipts under the European Recovery Programme; and how this was effected.
None. The size of the current dollar deficit is unaffected by E.R.P. receipts. Assistance under the European Recovery Programme was one of the means by which our gold and dollar deficit was financed, as is shown in Table V of Cmd. 7648.