HC Deb 29 October 1979 vol 972 cc428-9W
Mr. Higgins

asked the Chancellor of the Exchequer what has been the cost of implementing the sterling area guarantee to holders of certain official sterling reserves in each year since the guarantees were given.

Mr. Lawson

Payments to official holders under the sterling guarantee

arrangements amounted to £59 million in 1973 and £75 million in 1974. The guarantees expired in December 1974.