§ 55. Mr. Lipsonasked the Chancellor of the Exchequer why British subjects who have been on a visit to U.S.A. are allowed to bring only up to five pounds in English money back with them and if he will withdraw a restriction which is causing hardship and irritation.
§ Mr. Glenvil HallTravellers may take only £5 in sterling notes out of this country; therefore, any sterling notes in excess of £5 brought back to this country by a returning British resident must have been acquired abroad, quite possibly irregularly. It is essential to discourage dealings in sterling notes abroad and we must therefore restrict their import into the United Kingdom. I am not aware that such restriction causes any hardship.
§ Mr. LipsonIs my right hon. Friend aware that the average citizen cannot understand why it is wrong to bring sterling into this country? In any case is £5 not too little in view of the fact that people may require more than that on arrival in this country for travel and hotel purposes?
§ Mr. Glenvil HallThe position is quite simple. Outward travellers can take £5 with them so that they may have some English money in their pockets on their return. It is quite illegal to acquire additional sterling abroad and travellers should bring back with them any dollars or other foreign currency that they may have acquired.
§ Colonel Gomme-DuncanMay I assume, from the right hon. Gentleman's reply, that any amount of Scots money may be taken?
§ Mr. LipsonWill the Financial Secretary give an assurance that where it can be proved that a comparatively small sum has not been wrongly acquired in America it will not be confiscated?
§ Mr. Glenvil HallIf one only takes out £5 one cannot bring more than £5 back, unless one has acquired sterling in some irregular manner.