asked the Chancellor of the Exchequer if he will allow exporters of British goods to Canada to retain 10 per cent. of the dollar earnings of their exports for their own use.
No, Sir. Proposals of this kind have been very carefully examined, but I am satisfied that the objections are too great to justify their adoption.
Will the hon. Gentleman agree that such a proposal would encourage our exporters to export more to Canada if they thought they would be able to spend some of the dollars earned in return?
I agree that it is superficially rather attractive, but there is a great risk that such a scheme would cost more dollars than it would earn. It would be difficult to ensure that those people who had worked to earn dollars and those whose work enters at an early stage into the production of goods for export would receive a fair share of the reward. I think the difficulties are quite insuperable.