§ 47. Mr. CLOUGHasked the Prime Minister whether the Cabinet is considering any scheme, and, if so, what, for the stabilisation of exchange; whether there 1599 is any likelihood of an early decision; and whether, if action can be taken in any profitable direction, it will be expedited so as to relieve the volume of unemployment?
§ Mr. BONAR LAWI fear that it is beyond the power of His Majesty's Government to effect a stabilisation of the world's exchanges, but the Government has under consideration proposals, both in connection with the Ter Meulen scheme and otherwise, for facilitating the exports which are now checked by the state of the exchanges, and I can assure the hon. Member that there will be no delay on the part of His Majesty's Government in doing anything that may be found feasible.
§ Mr. A. M. SAMUELIn view of the immense importance of the rupee exchange to the trade of Lancashire, may I ask whether anything will be done to stabilise it?
§ Mr. BONAR LAWWe quite realise the importance of that, but I cannot give an answer to my hon. Friend.