§ 56. Mr. John Grimstonasked the Chancellor of the Exchequer what advice he has given the Colonial Development Corporation as to their attitude to the recently renewed offer of a dollar loan from the World Bank.
§ Sir S. CrippsIt is not correct to say that the International Bank have "offered a dollar loan" to the Colonial Development Corporation. Both the Colonial Development Corporation and the Bank have expressed their willingness to consider whether a new approach acceptable to both parties can be found. In these circumstances no question of advice from me arises.
§ Mr. GrimstonWill the right hon. and learned Gentleman bear in mind that while our dollar reserves are rising at their present rate, as he tells us that they are, it is unwise to borrow more dollars at 4 per cent.?
§ Sir S. CrippsI will certainly bear that in mind.