§ 57. Mr. Piratinasked the Chancellor of the Exchequer how he proposes to carry out the third of the eight principles agreed to by the council of the Organisation for European Economic Co-operation, concerning the reduction of imports from the dollar areas; and what effect he anticipates that the restriction of exports to Eastern Europe will have on this objective.
§ Mr. JayThe means by which the Government are carrying out this principle are explained in Command Papers 7572 and 7647. I do not expect the control of exports of certain classes of goods for security reasons to restrict the scope for mutually useful trade between ourselves and Eastern Europe, which will help in reducing our dollar deficit.
§ Mr. PiratinDoes that answer mean that the Minister does not expect any reduction of our exports to those countries in exchange for imports? If that is what he means it will be useful for the House to know it.
§ Mr. JayThe level of our exports to those countries will obviously depend upon the outcome of negotiations now going on with more than one of them.