HC Deb 27 April 1944 vol 399 cc929-30
44. Mr. Shinwell

asked the Chancellor of the Exchequer whether the terms of the experts' agreement on an International Currency Fund precludes Great Britain entering into separate currency arrangements with any of the Dominion countries; and what was the position of Australia and New Zealand on the committee of experts as regards the present agreement.

Sir J. Anderson

I assume that my hon. Friend is referring to the Sterling "area arrangements. There is nothing in the proposed scheme to preclude their continuance and this was recognised at the talks with the officials from the Dominions.

Mr. Shinwell

But as regards the scheme embodied in the White Paper, are we to understand that we can conclude separate agreements with the Dominions on currency matters? Further, will the right hon. Gentleman answer the last part of my Question which asks whether New Zealand and Australia demurred to the proposed Agreement?

Sir J. Anderson

I think it would be a pity if I tried to start giving little goblets of information about particular aspects of the scheme, which is to be discussed as a whole. My understanding certainly is that there is nothing in the scheme which would prevent the continuance of the same close monetary and economic arrangements between this country and the Dominions, as have obtained in the past. That is a point to which His Majesty's Government would certainly attach the very greatest importance. I am not aware of any dissent on the part of the representatives of the two Dominions referred to by the hon. Gentleman.

Mr. Shinwell

Is it not important that we should correct the impression that this experts' Agreement was reached unanimously?

Mr. Granville

Will the Minister bear in mind that the Agreement reached at the World Economic Conference, in 1932, was as an Empire delegation agreement on an Empire policy? Further, is it not a fact that individual delegates from each of the Dominions took part in the discussions?

Sir J. Anderson

That is perfectly true, and they were discussions which did not bind the Governments concerned. However, as we are to debate the whole matter, I think it would be better to wait until then.