HC Deb 24 February 1948 vol 447 c1767
55. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer whether His Majesty's Government have expressed their support of the American proposal to call a conference comprising those countries holding sterling balances accrued during the war so that the debts may be scaled down to a just proportion according to the war effort of the countries concerned.

Sir S. Cripps

I am not aware of any such proposal being made by the United States administration and His Majesty's Government and cannot therefore express any opinion upon it.

Colonel Crosthwaite-Eyre

Is not the Chancellor of the Exchequer aware that the House of Representatives Select Committee on Foreign Aid make this suggestion, that the Chancellor of the Exchequer and his predecessors have given many undertakings that these sterling balances would be reviewed and scaled down, and does it mean in fact that His Majesty's Government have no intention of carrying out their many undertakings, and will not take advantage of opportunities offered to them?

Sir S. Cripps

No, Sir.