§ 71. Mr. Stokesasked the Chancellor of the Exchequer how much gold has been purchased on behalf of the Government from South Africa since the outbreak of war; how much is now held in the Exchange Equalisation Account; and for what purpose this gold is to be used.
§ 77. Mr. Martinasked the Chancellor of the Exchequer how much gold has been imported into this country since 3rd September, 1939; and what was its destination.
§ Sir J. AndersonThe gold purchased from South Africa or from other sources by the Exchange Equalisation Fund forms part of our monetary reserves and is available to be used for this purpose in accordance with the Statutory provisions governing the Exchange Equalisation Account. The transactions of the Account and the assets which it holds must continue as at present to be treated as confidential. As the House is aware, the annual accounts of the Exchange Equalisation Account are submitted confidentially to the Public Accounts Committee.
§ Mr. StokesArising out of that most unsatisfactory reply, may I ask the Chan- 36 cellor whether it would be putting it at too high a figure to say that £400,000,000 in gold has been purchased for this purpose?
§ Sir J. AndersonI have just said that the figures must be regarded as confidential.
§ Mr. StokesWill the Chancellor say why?
§ Sir J. AndersonI shall not, Sir, for obvious reasons.
§ Sir Frank SandersonIf the figure is as stated by my hon. Friend the Member for Ipswich (Mr. Stokes), is it not a highly desirable purchase?
§ Sir J. AndersonMy hon. Friend does not think so.