§ The Financial Secretary to the Treasury (Mr. Douglas Jay)I will, with permission, make the following statement. On 5th July my right hon. and learned Friend the Chancellor of the Exchequer announced that owing to the increase in our gold and dollar reserves during the preceding months it had become necessary to replenish the sterling resources of the Exchange Equalisation Account by the issue to the Account, under existing powers, of £300 million 2240 from the Exchequer. As a result of the continued increase in the reserves, an issue of sterling to the Account is again necessary, and a further issue of £300 million is accordingly being made to the Account this week.