HC Deb 06 April 1943 vol 388 cc493-5
51. Mr De la Bère

asked the Chancellor of the Exchequer whether, in view of the numerous pronouncements on reserve banking emanating from the United States of America, he will give an assurance that it is not the intention of His Majesty's Government to participate in the establishment of a world reserve bank; and whether he is now in a position to give some further indication of their proposed actions to ensure the necessary flow of credit to restore industry and commerce at the conclusion of hostilities?

Sir K. Wood

I think my hon. Friend might find it convenient to await the publication of the White Paper, which will indicate the way in which this subject is being examined and which will be available to Members to-morrow.

Mr. De la Bère

Does not my right hon. Friend realise one central and vital fact that the only true solution of this prob- lem is the establishment of social and economic justice?

58. Mr. Craven-Ellis

asked the Chancellor of the Exchequer whether, before this country is committed to any proposals for post-war stabilisation of currency, which the coming conference in the United States of America of finance ministers, or their representatives, of the United Nations might recommend, he will give this House an assurance that they will have an opportunity to debate the recommendations?

Sir K. Wood

If it is the general desire of the House to have a Debate on this and other aspects of post-war monetary policy after the publication of the forthcoming White Paper, I have no doubt that such a proposal would receive careful consideration.

Mr. Craven-Ellis

If we accept the American plan for currency stabilisation in full, will it not ultimately result in Britain losing her monetary freedom, and do the Government give it support?

Sir K. Wood

I would ask my hon. Friend to see the American plan before making any criticisms.

Mr. Hammersley

Does the answer mean that the Debate is to take place in circumstances in which no commitments have been entered into?

Sir K. Wood

I would ask my hon. Friend to await the publication of the White Paper to-morrow, when he will see that question answered.

Mr. Kirkwood

Is there any truth in the rumour that the Chancellor will increase the Income Tax?

59. Mr. Craven Ellis

asked the Chancellor of the Exchequer whether his representatives at the conference called by the Secretary of the United States Treasury, will be authorised to submit to the conference for discussion the post-war currency proposals formulated by his advisers?

Sir K. Wood

I would ask my hon. Friend to await the publication of the White Paper.

60. Mr. Craven-Ellis

asked the Chancellor of the Exchequer whether he will publish the names of those who will represent the Treasury at the conference to which the Secretary of State of the United States Treasury has invited them, together with representatives of the United Nations, to discuss currency stabilisation and other post-war monetary plans?

Sir K. Wood

The present informal discussions with experts in the Departments of the United States Government are being conducted, in the ordinary course of business, by a responsible official of the Treasury, who is stationed in Washington. If arrangements are made for a more formal conference, His Majesty's Government will consider whether any additional representation is desirable.