§ 50. Sir H. CROFTasked the Prime Minister whether the Cabinet have yet come to any decision as to the policy for correcting the adverse balance of trade; and, if so, whether he can indicate the broad lines of that policy?
§ The PRIME MINISTER (Mr. Ramsay MacDonald)This is not a matter which can be dealt with by question and answer. I can, however, assure my hon. and gallant Friend that it is one of the main concerns of the Government. As he knows certain steps have already been taken.
§ Sir H. CROFTIs it not a fact that the "certain steps" at present, only cover something like 4 per cent. of the imports into this country?
§ The PRIME MINISTERBut this Government has not yet lived 4 per cent. of its life.
§ Mr. BUCHANANIn view of the continued fall of the pound and the need that the House should know exactly what is in the right hon. Gentleman's mind, would he not allow a day for the discussion of this subject?
§ Mr. SMITHERSOn a point of Order. The pound sterling is better to-day.
§ Mr. MAXTONAre we not to have a reply to the last question? Is the Prime Minister not prepared to give a day before the Session closes for a full statement of Government policy, because serious things may happen during the 1078 Christmas Recess and we want to know what the Government propose to do?
§ The PRIME MINISTERIt would be quite impossible for the Government to give a whole day to discuss a situation when my hon. Friend himself says he does not quite know what the situation is. He is asking for a discussion on something which may happen later when we are not here.