HC Deb 10 December 1946 vol 431 cc975-6
59. Mr. David Eccles

asked the Chancellor of the Exchequer the total value of the British securities which he is taking over from the French Government; and how he proposes to dispose of these securities.

Mr. Dalton

The total value will depend on the amount of securities offered by the French Government to His Majesty's Government, which the latter agree to accept. They will be marketed with discretion.

Mr. Eccles

Does the Chancellor of the Exchequer realise that most of the securities are of a highly speculative nature, and great as is his reputation as a speculator, does he not think it would be better to get rid of them as quickly as possible?

Mr. Dalton

Not at the cost of causing their prices to fall.

Mr. Walter Fletcher

Will the Chancellor of the Exchequer say whether he is going to follow the same pattern as the £126 million raised in America, in 1941, which led to the disposal of certain securities to the great disadvantage of this country?