§ 54. Mr. Woodburnasked the Chancellor of the Exchequer whether he is aware of the considerable purchases of jewellery and precious stones which are being made; and what steps he is taking to prevent this wealth from being used as a method of evading the regulations controlling the export of wealth to the United States of America and other countries?
§ Sir K. WoodThe export of jewellery and precious stones is prohibited, except under Board of Trade licence, to countries other than Empire countries within the sterling area. Licences are granted only when the proposed export complies with the Defence (Finance) Regulations, and the return of any proceeds required to be surrendered under these regulations in respect of the sale of the goods is carefully checked. The prohibition extends to personal effects in the form of jewellery unless they are of relatively small value, and a licence is not given for goods which have been bought in this country and which might be used to evade the Defence (Finance) Regulations.
§ Mr. WoodburnWill the right hon. Gentleman consider asking those who already have jewellery deposited abroad to declare it in the same way that they have to declare holdings of gold?
§ Sir K. WoodIt will be difficult to get in touch with them.