§ 8. Mr. Osborne
asked the Chancellor of the Exchequer how much United States dollar aid we have earned by our own efforts; and how we have earned it.
§ Mr. R. A. Butler
One hundred and sixty million dollars in the year July, 1952, to June, 1953. These were our earnings from offshore sales of military equipment to the United States Government for supply to N.A.T.O. forces and from the expenditure of United States forces in the United Kingdom.
§ Mr. Osborne
Why does the Chancellor call this legitimate trade by the wrong name? If it is trade, why call it "aid"?
§ Mr. Butler
I developed the slogan, "trade not aid." This is mare trade than aid, so perhaps my hon. Friend is helping.
§ Lieut.-Colonel Lipton
Is it not a fact that in the two years since October, 1951, this country has received more dollar aid from the United States than we received in the two years prior to 1951?
§ Mr. Butler
I should not like to give an answer to that without the question being put on the Paper, nor could I give an exact answer, because the right hon. Gentleman the Member for Leeds, South (Mr. Gaitskell) himself drew attention in a recent speech to a declining curve and an increasing curve and one can always choose years to suit the argument.