§ 45. Mr. Emrys Hughesasked the Prime Minister if he will consider issuing invitations to a World Economic Conference to consider the continuing lack of balance between the dollar area and the rest of the world, the maintenance of full employment as defence contracts end and a world plan for economic reconstruction to raise standards of life, especially in undeveloped areas.
§ The Prime Minister (Mr. Winston Churchill)I hardly think that the time is ripe for summoning a new conference to consider these matters, which will, however, be discussed at the present Session of the Economic and Social Council of the United Nations.
§ Mr. HughesDoes the Prime Minister not agree that economic conditions throughout the world are deteriorating and that while poverty and unemployment grow throughout the world the greater is the danger of Communism, and would he not be in favour of instructing our delegation at the United Nations to support the calling of such a conference?
§ The Prime MinisterWithout going into all those important topics, I should not wish to alter the substance of my answer.
§ Mr. GaitskellMay I ask the Prime Minister whether it is the case that the problem of the lack of balance between the dollar area and the rest of the world is being considered at the Economic and Social Council, and whether these three subjects will be discussed together since they are so intimately related?
§ The Prime MinisterThe items on the agenda for the 14th Session of this Council, which opened on 20th May, again included the world economic situation, the economic development of underdeveloped countries and a report on measures for international economic stability. I should have thought that that would have included the very critical point mentioned by the right hon. Gentleman.
§ Mr. GaitskellI could not agree. As far as I am aware, this is not being discussed at the Economic and Social Council. In any case, if the Prime Minister thinks that that is the right place for these matters to be discussed internationally, why does he not send a much stronger delegation from Her Majesty's Government?
§ The Prime MinisterIn any case, I am not proposing to issue invitations for a world economic conference as asked by the hon. Member.
§ Mr. GaitskellWill the Prime Minister not agree that these are matters of the greatest importance and that there is no international body which is effectively solving them at the moment? Will he, at any rate, consider whether preparations for such a conference could not be set on foot by informal discussions, for example, between the major powers concerned?
§ The Prime MinisterThese matters are never out of the minds of Her Majesty's Government, and, indeed, our whole future depends upon them. We are striving our utmost to improve the position from what we found it when the right hon. Gentleman left it.
§ Sir H. WilliamsWill my right hon. Friend study the reports of the World Economic Conference of 20 years ago, held in South Kensington, which was a complete flop?
§ The Prime MinisterI do not think in the circumstances that I need read it all.