§ 1. Mr. William Shepherd
asked the Chancellor of the Exchequer the amount of foreign currency that has been allocated to firms in this country for expenditure in connection with programmes on Radio Luxemburg during the last 12 months.
§ The Minister of State for Economic Affairs (Sir Arthur Salter)
No foreign exchange is granted to firms for this purpose. Payments for time in Radio Luxemburg programmes are made in sterling to a company resident in the United Kingdom, which, in accordance with normal rules, is allowed to remit dividends to its shareholders resident abroad.
§ Mr. Shepherd
Is my right hon. Friend satisfied that no accumulated deficit is being built up against foreign exchange as a result of these transactions?
§ Sir A. Salter
We are, of course, aware of the payments, but I cannot give my hon. Friend exact information on those payments because, as he knows, the relations between Exchange Control and individual firms are confidential.
§ Mr. Emrys Hughes
Can the right hon. Gentleman say whether Radio Luxemburg is advocating Scotch whisky, and if payment is made in currency or in kind?
§ Mr. Shepherd
While appreciating the necessity to keep individual transactions confidential, may I ask whether my right hon. Friend agrees that there could not be any justification in the present economic circumstances for paying foreign currency largely to advertise British goods in the British market?