HC Deb 11 May 1948 vol 450 cc1958-9
49. Colonel Hutchison

asked the Chancellor of the Exchequer under what clause of the International Monetary Fund's constitution has the right of Great Britain to draw its annual entitlement from the Fund been stopped.

Sir S. Cripps

I would refer the hon. and gallant Member to the reply which my hon. Friend the Economic Secretary gave to the hon. and gallant Member for New Forest and Christchurch (Colonel Crosthwaite-Eyre) on 27th April.

Colonel Hutchison

Does not the constitution of the I.M.F. provide for the participating countries as of right to draw a definite percentage out of the Fund? Has that percentage yet been reached?

Sir S. Cripps

If he will read the answer referred to the hon. and gallant Gentleman will see that the whole matter is explained.

Colonel Crosthwaite-Eyre

Would the right hon. and learned Gentleman say, in reference to the Economic Secretary's reply to me and the Minute of the International Monetary Fund, what representations have been made by our representative? Can he say that that Minute has not been accepted, because of the injustice it does to this country?

Sir S. Cripps

It was stated that we have not agreed to it.