§ 45. Mr. Osborneasked the Chancellor of the Exchequer how much was the Argentine sterling balance over here, for which a revaluation is now being demanded because of the pound's devaluation; and if he will make a statement on the position.
§ The Chancellor of the Exchequer (Mr. Gaitskell)I regret that I cannot disclose figures of the sterling balances of individual countries. The question of a revaluation payment will no doubt be discussed in the present negotiations with the Argentine Government, but I am unable at present to make any statement.
§ Mr. OsborneWhy cannot the Chancellor disclose the balance? Does the fact that the Economic Secretary to the Treasury has been to Argentina sent as head of a trade mission mean that revaluation of these balances is considered of more importance than the obtaining of more meat?
§ Mr. GaitskellThe answer to the latter question is, "No, Sir," and to the former, because it is the property of the other Government.