American Loan Agreement (Section 9)

HC Deb 27 November 1951 vol 494 cc1110-1

50. Sir Jocelyn Lucas

asked the Chancellor of the Exchequer whether he will make representations to the United States Government, with a view to the annulment of Section 9 of the Loan Agreement in order to enable larger purchases to be made within the Empire.

The Minister of State for Economic Affairs (Sir Arthur Salter)

No, Sir. I have no reason to expect that our imports from the sterling area will be restricted on account of Section 9 which, in accordance with the Loan Agreement, comes to an end at 31st December, 1951.