HC Deb 19 May 1953 vol 515 cc1853-4
14. Mr. W. G. Bennett

asked the Chancellor of the Exchequer the total value, in dollars and sterling, of all dollar stocks and securities compulsorily acquired in this country and sold in America during the period September, 1939-June, 1945.

Mr. R. A. Butler

I would refer my hon. Friend to the Command Paper published in December, 1945, and entitled "Statistical Material presented during the Washington Negotiations" (Cmd. 6707). Appendix III of that paper gave figures for the proceeds of sale or repatriation of overseas investments during the war and included £203 million in respect of investments in the United States.

Mr. Bennett

Would the Chancellor agree that the sterling value of that stock today, bearing in mind the depreciation of sterling currency, would be at least five times the figure given?

Mr. Butler

I should not like to make an obiter dictum on this matter at this time.