§ 52. Captain PETER MACDONALDasked the Chancellor of the Exchequer whether, in addition to the sum of £26,000,000 left over as a result of wartime financial operations and included under miscellaneous revenue, there is any balance of the account in New York which was used for pegging the dollar exchange; what is that balance; and is it available for budget purposes?
§ Mr. P. SNOWDENIf the hon. and gallant Member has in mind the Exchange Account I would refer him to paragraph 66 of the report of the Comptroller and Auditor-General on the Civil Appropriations Accounts for 1929 and to the reply which I gave to the late Sir Laming Worthington-Evans on the 5th February.
§ Mr. SMITHERSCan the right hon. Gentleman say, in answer to the last part of the question, whether that balance is available for Budget purposes?
§ Mr. SNOWDENOf course, the only reply I can give to that question is that I cannot anticipate my Budget statement.
§ Sir WILLIAM MITCHELL-THOMSONIs this £26,000,000 a cash reserve?
§ Mr. SNOWDENDoes the right hon. Gentleman mean held in bullion?
§ Sir W. MITCHELL-THOMSONNo, in liquid securities.
§ Mr. SNOWDENYes, in liquid securities.
§ Lieut. - Commander KENWORTHYMay I ask how it was that this sum escaped the right hon. Gentleman's predecessor?