HC Deb 06 October 1931 vol 257 cc978-9
28. Colonel WEDGWOOD

asked the Prime Minister whether he will give a day for the discussion of the Motion standing in the name of the right hon. Gentleman the Member for Newcastle-under-Lyme (Colonel Wedgwood): That, in the opinion of the House, it is not desirable to stabilise the value of the pound until the balance of trade has been demonstrably restored by natural means, and then only at the free exchange value of sterling at that time.


I am afraid it is impossible to afford time for this Motion, and in any case such a discussion at present would be premature.


I beg to give notice that I propose to raise this question of the premature pegging of the pound on the Consolidated Fund Bill to-morrow.

30. Mr. MORLEY

asked the Chancellor of the Exchequer at what value the Government proposes to undertake the stabilisation of the pound?


I would refer the hon. Member to the reply which my right hon. Friend gave to the hon. Member for Plaistow (Mr. Thorne) on the 28th September.


May we take it that in this case, in accordance with precedent, the Government will not do anything at all without the permission of the Bank of England?