§ 46. Colonel WEDGWOODasked the Prime Minister whether he will give an early day for the discussion of the Notice of Motion standing in the name of the right hon. Gentleman the Member for Newcastle-under-Lyme on Stabilising Sterling?—
That, in the opinion of this House, no attempt should be made to stabilise sterling until the various props to sterling, such as the embargo on the issue of foreign loans, the free purchase of forward exchange, and of foreign stock, bonds and currency, have been removed, and a normal bank rate restored.
§ The PRIME MINISTERIn the opinion of His Majesty's Government the time is not yet ripe for a discussion of this matter.
§ Colonel WEDGWOODWould the Prime Minister give his personal attention to the effect of the high Bank Rate on the pegging of sterling and upon the trade and industry of the country?
§ The PRIME MINISTERI can assure my right hon. and gallant Friend that all these subjects are under review.
§ Colonel WEDGWOODWith many apologies, may I ask the Prime Minister whether he has read the City article in the "Times" this morning?