§ 49. Mr. Errollasked the Chancellor of the Exchequer what are the present methods of controlling the expenditure of British capital in this country and abroad.
§ Sir S. CrippsIt is quite impossible to deal adequately with this very wide question within the limits of a Parliamentary answer. If the hon. Gentleman will let me know what particular aspects of control he has in mind I will give him what information I can.
§ Mr. ErrollCan the Minister say why capital expenditure is so closely controlled in this country when it is quite freely expendable in sterling area countries overseas?
§ Sir S. CrippsThere may be control by the local government, but the transfer of sterling must be free within the sterling area.