§ 46. Mr. Hardyasked the Chancellor of the Exchequer if he will make a statement about supplementary transfers by emigrants consequent on the alteration in the exchange value of sterling.
§ Sir S. CrippsYes, Sir. Since 9th April, 1948, emigrants to countries outside the Scheduled Territories have been allowed on application to transfer to their new country of residence £1,000 from their own assets in four annual instalments of £250. I have decided to allow those emigrants whose applications for this rate of allowance were either approved or were in the hands of their bankers before 19th September, 1949, to make supplementary sterling transfers from their own resources, in respect of instalments converted into foreign currency after that date. In this way, emigrants who have sufficient funds of their own will be able to receive the same amount of foreign currency, calculated at the present rates of exchange, as they would have received at the rates ruling when application for emigration treatment was made. This special concession will not apply to persons applying for emigration treatment on or after 19th September, 1949, or to those who had the benefit of the more generous allowance granted before 9th April, 1948.