HC Deb 24 October 1949 vol 468 cc1010-1
53. Sir T. Moore

asked the Secretary of State for Foreign Affairs what inquiries, criticisms or protests he has received from the Governments of the European countries within the sterling area in regard to the lack of prior consultation with them before the devaluation of the pound sterling was announced by the Chancellor of the Exchequer.

Mr. Mayhew

None, Sir.

Sir T. Moore

Does the Under-Secretary think that this unilateral method of devaluation is calculated to promote confidence and goodwill between ourselves and the other countries concerned?

Professor Savory

Can the hon. Gentleman say whether he considers that the failure to give notice to the French Government was consistent with Article 4 of the Treaty of Dunkirk; and is he not aware that the word "Dunkirk," so sacred to us, is being used as a form of opprobrium?

Mr. Mayhew

There is no breach of any formal obligation in this procedure. The French Government, while regretting that it was not possible for us to give earlier notice, have themselves stated that they consider that we have fulfilled our obligations.