HC Deb 09 November 1937 vol 328 c1580
48. Sir G. Mitcheson

asked the Chancellor of the Exchequer, when the statement as to the position of the Exchange Equalisation Account will be made?

Sir J. Simon

I would refer my hon. Friend to the answer which I gave on 4th November to the right hon. and gallant Gentleman the Member for Newcastle-under-Lyme (Colonel Wedgwood).

49 and 50. Mr. Bellenger

asked the Chancellor of the Exchequer (1) whether gold transferred to the Bank of England by the Exchange Equalisation Account is sold at 84s. 11½d. per ounce, and what is the loss on such transactions debited to the account;

(2) whether any gold has been purchased by the Exchange Equalisation Account from the Bank of England during the past 12 months, and at what average price?

Sir J. Simon

The accounting arrangements between the Issue Department of the Bank and the Exchange Equalisation Account are detailed in Part IV of the Finance Act, 1932, to which I would refer the hon. Member. Detailed transactions on behalf of the Exchange Equalisation Account are not published. Both the Issue Department of the Bank of England and the Exchange Equalisation Account are accounts in which the Treasury has the sole financial interest and no transaction between them can result in either loss or gain to the Exchequer.

Mr. Alexander

Will it soon be possible to furnish the House with the balance sheet of this Exchange Equalisation Account?

Sir J. Simon

Perhaps the right hon. Gentleman will recall that I made a statement earlier in the year in which I undertook to supply the House, at the times mentioned, with information on this subject. That will be done.