HC Deb 05 November 1946 vol 428 cc1216-7
63. Mr. McEntee

asked the Chancellor of the Exchequer if he is aware that about 90 British passengers were unable to travel on the Swedish m.v. "Saga," which sailed from the Thames to the Mediterranean on 30th October, on the ground that the fare was over £75, the maximum sum that the Government allows one person to take out of the country; and, in view of this, if he proposes to stop foreign racehorse owners who win money stakes or bets, and foreign boxers who win prize money or side bets exceeding the £75 limit, taking the money out of England.

Mr. Dalton

The limit of £75 is imposed to conserve foreign exchange. Prize money, being earned income, may be remitted home by foreigners; but betting winnings, being capital gains, may not.

Mr. McEntee

Am I right in saying that the money spent on the bookings by the booked passengers in this Swedish ship should not be allowed to go out because this is a foreign ship and the money goes to foreign exchange? Is it not equally true that the industries of horse racing and horse breeding referred to in the Question are foreign industries? Why is there this discrepancy?

Mr. Dalton

In both cases we desire to conserve our foreign exchange to the utmost extent possible.

Mr. Oliver Stanley

May I ask the right hon. Gentleman whether it is right in a planned economy that French horses should be allowed to win these races?

Mr. Dalton

These fortuitous arrangements are for the benefit of international good feeling, and that is part of our plan.

Mr. McEntee

Is it not one of the things that will be attributed to the Labour Party because it is in power?