HC Deb 26 May 1949 vol 465 cc1443-4
51. Mr. Erroll

asked the Chancellor of the Exchequer to what extent Marshall Aid dollars may be used by Government buying agencies to make forward purchases of commodities in the United States of America when these would show a discount compared with current prices.

The Economic Secretary to the Treasury (Mr. Douglas Jay)

No restrictions are placed by E.C.A. on the forward purchase of commodities in the U.S.A. provided E.C.A. is satisfied with the terms of the contract. No U.K. contracts have been rejected for E.C.A. financing on the grounds mentioned.

Mr. Erroll

Do the British Government take advantage of the opportunities outlined in this Question when they exist?

Mr. Jay

Yes; wherever there is commercial advantage to be obtained, we do so.