HC Deb 19 November 1953 vol 520 cc1902-3
50. Captain Duncan

asked the Chancellor of the Exchequer his policy regarding the allocation of dollars for the purchase of grain from overseas.

Mr. Maudling

Imports of grain for U.K. consumption are permitted freely under open individual licences. When dollars are required they are made available.

Captain Duncan

Does my hon. Friend realise that the enormous increase in the quantity of grain coming in from abroad in the last few months, may well endanger the balance of payments between dollar and sterling? If that is allowed to continue without any ceiling put on, it may be very serious in relation to our economic position.

Mr. Maudling

It is, of course, important to save dollars, but it is also very important that the imports we buy should be bought as cheaply as possible. The continuation of discrimination between dollar and non-dollar commodities, in this type of commodity, leads to considerable premium prices which would have to be paid if we did not allow dollar commodities freely to be imported into this country.