§ 55. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer to what extent in the calendar year 1948 has a reduction in the drain on the gold and hard currency reserves of this country been achieved by the sale of British assets in foreign countries.
§ Sir S. CrippsDuring 1948 the sale of British assets in the non-sterling area has been very small except in the case of Argentina, where about £155 million of British assets were sold, being almost 747 wholly the formerly British-owned railways which were disposed of under financial arrangements debated in the House on 23rd February, 1948, and Brazil, where such sales as have taken place have been financed in accordance with Article 19 of the Trade and Payments Agreement dated 21st May, 1948.
§ Colonel Crosthwaite-EyreCan the Chancellor give any estimate of what the other sums, to which he referred as small, will amount to in the course of a full year?
§ Sir S. CrippsI think that they are quite negligible compared with the sums I have mentioned.
§ Mr. NicholsonCould this information be given in some official publication or must it be elicited by question and answer?
§ Sir S. CrippsI could not answer that question without notice.
§ Mr. Oliver StanleyWould the Chancellor consider giving details of this sort in the Economic Survey for next year, because, of course, they do bear very much on the real deficit which we have to meet?
§ Sir S. CrippsI will certainly bear that in mind.