§ 10. Sir W. Smithersasked the Chancellor of the Exchequer if he has read the fourth annual report of the International Monetary Fund, which recommends that maximum efforts should be made by all countries to facilitate access of goods and services to their markets; what steps he is taking to implement this policy; and if he will make a statement.
§ Mr. R. A. ButlerYes, Sir. We continue to free imports and markets wherever this can be done without serious risks for our reserves and our balance of payments. There are, however, limits to the pace at which we can advance, and the report to which the hon. Member refers stresses the decisive importance of action by creditor countries to permit a freer flow of trade.
§ Sir W. SmithersMay I thank the Chancellor for that somewhat encouraging answer? May I also ask if he is aware that not only the economic salvation of this country but world peace depend on removing barriers to trade, because if trade is not allowed to cross frontiers, armies will?
§ Mr. ButlerYes, Sir; I am fully aware of those considerations.