Sterling Convertible Agreements

Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 24 Ebrill 1947.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Mr Hugh Dalton Mr Hugh Dalton , Bishop Auckland 12:00, 24 Ebrill 1947

Agreements have been concluded with the Argentine, Portugal, Belgium, the Netherlands and Italy, and we have a working arrangement on similar lines with Canada. As I explained in my reply to the hon. and gallant Member the day before yesterday, no estimate can be given of the amounts involved, since they depend not only on our own transactions with the countries concerned, but also upon their transactions with other countries, in so far as these are settled in sterling. As regards the credit balances of other countries, I would refer him to my answer the day before yesterday to my hon. Friend the Member for Spen Valley (Mr. Sharp).