HC Deb 08 June 1944 vol 400 cc1518-9
75. Sir W. Smithers

asked the Chancellor of the Exchequer to what extent the value of Argentine's sterling balances is guaranteed by the British Government against a depreciation of sterling by a special gold clause; and if he will reconsider this, in view of the discriminatory treatment accorded over many years to British investors in the Argentine.

Sir J. Anderson

These balances carry a guarantee based upon the price of gold in London. The answer to the second part of the Question is in the negative; action in regard to discriminatory treatment of our overseas investments has to be dealt with, in cases that arise, as a separate matter.

76. Sir W. Smithers

asked the Chancellor of the Exchequer whether, in view of the fact that sterling balances can, in many instances, only be satisfied after the war by the export of British goods and services or in gold and acceptable foreign currencies, if available, he is taking all possible steps to ensure that what remains of our overseas investments shall, in order to mitigate the problem of sterling balances, be accorded the fairest possible treatment.

Sir J. Anderson

I fully agree with my lion. Friend that all possible steps should be taken to ensure that our overseas investments shall be accorded the fairest possible treatment. This is a matter to which His Majesty's Government will continue to devote special attention.

Sir W. Smithers

In view of the fact that the British investor has helped to develop the countries indicated in these two Questions, will my right hon. Friend consult the Foreign Secretary to see what he can do to put Great Britain's foot down firmly, to ensure that the British investor receives decent treatment?

Sir J. Anderson

I am very anxious to ensure that he receives good treatment.

Sir W. Smithers

Will my right hon. Friend consult the Foreign Secretary?

Sir J. Anderson

I am in constant touch with the Foreign Secretary.