§ 50. Mr. Pethick-Lawrenceasked the Chancellor of the Exchequer what rate has been fixed for the sterling-lira exchange in the occupied Italian islands; and what are the basic considerations which guide him in making this and similar decisions?
§ The Chancellor of the Exchequer (Sir Kingsley Wood)I propose to make a statement about this and allied matters at a convenient opportunity. As my right hon. Friend will realise, the basic consideration which governs the fixing of an appropriate rate of exchange is that it should take into account all relevant economic factors, including the level of local prices and wages and other costs.