Mr. Belfenger:

asked the Chancellor of the Exchequer whether it is still the policy of His Majesty's Government to support the exchange value of the Chinese dollar?

I see no reason to depart from the view that stability of the Chinese currency is of great importance from the point of view of British interests and of the interests of other countries which have economic and financial relations with China.

Arising out of that rather ambiguous reply, are we to understand that the Government are of the same opinion as they held when they introduced the Chinese Currency Stabilisation Bill that they will support the exchange value of this dollar even though it may fall 25 per cent, after the right hon. Gentleman has given his assurance?

The question which I was asked was whether we would support the exchange value of the Chinese dollar, and I answered it by saying that we think that the question of Chinese currency is an important one, but I am not making any declaration as to what future action we may take.

Will the right hon. Gentleman say whether the Government are still going to supoprt the exchange value of the Chinese dollar, and has he sufficient resources available for this purpose?

If further resources were needed they could only be authorised by legislation.