§ 41. Colonel WEDGWOODasked the Chancellor of the Exchequer whether any profit made by the use of the Exchange Equalisation Fund will be used to assist in the balancing of next year's Budget?
Mr. CHAMBERLAINPart IV of the recent Finance Act under which the Exchange Equalisation Account was set up made no provision for the appropriation to Budgetary Revenue of any profits arising from the operation of the Account. Section 26 of the Act contemplates that any such profits shall be retained in the Account until it is wound up, and then applied to the redemption of debt.
§ Colonel WEDGWOODDoes that debar Chancellors of the Exchequer from using this fund, seeing that they have occasionally raided the Sinking Ford?