HC Deb 12 December 1944 vol 406 cc1044-5
50. Sir W. Smithers

asked the Chancellor of the Exchequer if he can take steps to alter the Anglo-French rate of exchange so that the pound sterling, when changed into francs, may have the same purchasing power in France as in Britain.

Sir J. Anderson

Under present conditions prices in France must vary a great deal as between different parts of the country, and speaking with some personal knowledge, I do not think it would be easy to make any reliable calculation on the purchasing power of the pound sterling when converted into francs. I do not regard the existing rate of exchange as interposing obstacles in the way of Anglo-French trade, and taking all the relevant factors of the situation into account I would not think it right for His Majesty's' Government to suggest an alteration in the rate.

Sir W. Smithers

Does not the right hon. Gentleman realise that the present disparity is causing great injustice to our men in the Forces and also tends to create a black market? Will he do all he can—I realise the difficulties—to bring the exchange as near as possible into parity?

Sir J. Anderson

With great respect, I would venture to deprecate any attempt to pursue such a matter by way of Question and answer. Unless the wording is very carefully considered, the answers, and for that matter, the Questions, are very liable to lead to undesirable forms of speculation.

Sir W. Smithers

I want to stop that.