§ 55. Mr. CRAVEN-ELLIS
asked the Chancellor of the Exchequer if the Government will consider reducing the gold content of the pound and establishing a new gold parity; and whether he can form any estimate of the consequent capital loss on our foreign investments?
§ Mr. HORE-BELISHA
No, Sir. Such a proposal would be inappropriate in present circumstances. My right hon. Friend has repeatedly stated the conditions which must be fulfilled before this country can safely return to the gold standard. The second part of the question does not therefore arise.
§ Mr. CRAVEN-ELLIS
Are the Government satisfied that it is in the best interest of British industry and those employed therein that the Bank of England should continue as a private concern over which this House has no control?