§ 10. Mr. LAMBERT
asked the Chancellor of the Exchequer what, as compared to sterling, are the depreciations in the currencies of Denmark, Argentina, Australia and New Zealand; and whether he proposes to take action, monetary or otherwise, to enable home agricultural producers to compete fairly with products from countries with depreciated currencies?
Over the last five years the depreciation of the Australian, New Zealand and Danish currencies relative to sterling has been from 19 to 20 per cent., and the depreciation of the Argentine currency rather less than 40 per cent. The Australian, New Zealand and Danish currencies have all been stable in terms of sterling for more than two years. The difficulties of agricultural producers in this country have arisen from many varying circumstances, and no stereotyped method of dealing with them could be adopted with advantage. Appropriate measures have been taken by His Majesty's Government for the relief of the different branches of agriculture as their individual circumstances required.
§ Mr. LAMBERT
Is the right hon. Gentleman aware that the competition from countries with these depreciated currencies is affecting prejudicially our agricultural producers here?
I would remind my right hon. Friend that our own currency has depreciated since we went off gold.