HC Deb 23 November 1937 vol 329 cc1026-8
44. Sir A. Knox

asked the President of the Board of Trade whether the Government of the United States of America have given any indication of the concessions which they would make in the event of a trade treaty?

Mr. Stanley

The question of concessions by the United States of America was one of the subjects on which views were exchanged during the informal and exploratory discussions to find an agreed basis for the negotiation of a trade agreement.

Sir A. Knox

As the American tariff at present is very much higher than ours, would it not be right for them to reduce their tariff to the level of ours before we begin these negotiations?

Mr. Stanley

I think we must do the best we can in the negotiations.

Mr. Wedgwood Benn

Will the Prime Minister take note of the daily objections raised by his own supporters to this trade treaty?

46. Mr. Boothby

asked the Prime Minister whether His Majesty's Government are prepared to co-operate with the Government of the United States in an effort to bring a greater measure of economic stability to the world; and, if so, whether it is proposed to take any action in the matter?

The Prime Minister (Mr. Chamberlain)

Yes, Sir. His Majesty's Government are prepared to co-operate with the United States Government in any practicable methods of promoting world economic stability. In present circumstances the negotiations for a trade agreement between the two countries which are now contemplated would appear to offer a helpful contribution to this end, and I would refer my hon. Friend to the statement which I made on 18th November on this subject.

49. Mr. Boothby

asked the Chancellor of the Exchequer whether he can give the House an assurance that, pending the negotiation of a trade agreement between this country and the United States, the financial co-operation between London and Washington established at the time of the tripartite currency agreement will be maintained and, if possible, increased, and also that the objectives of our monetary policy remain unchanged?

The Chancellor of the Exchequer (Sir John Simon)

I am very glad to give the House the desired assurance.

Mr. Boothby

May I ask the right hon. Gentleman whether stability of the price level was not one of these objectives, and in view of the recent violent fluctuations which have taken place, will His Majesty's Government make representations to the Government of the United States of America with a view to joint action to check such fluctuations?

Sir J. Simon

These matters are under very constant consideration, and, as the hon. Member knows, they are the subject of constant examination also by the United States Government.

Mr. Bellenger

In view of the suggestion in the question, does the right hon. Gentleman contemplate that there will be a necessity for the revision of the tripartite currency agreement consequent upon the Anglo-American trade negotiations?

Sir J. Simon

No, Sir.