§ 30. Mr. MABANE
asked the Chancellor of the Exchequer whether, in view of the benefit which has accrued to the productive industry of this country as a result of the policy of the Government with regard to foreign lending, he will resist pressure from the City of London to reverse the present policy?
§ Mr. HORE-BELISHA
This matter raises many controversial issues with 153 which it would be difficult to deal satisfactorily within the limits of an answer to a Parliamentary question, but among the factors which have been taken into consideration in deciding policy are the need of capital for home development, the effect of foreign lending on our balance of payment, the position of the exchanges, and the relation between foreign lending and the encouragement of our export trade.
§ Colonel WEDGWOOD
Would the hon. Gentleman consider, in addition to the other items he has enumerated, the general advantages of liberty over control?