§ 40. Mr. Swinglerasked the President of the Board of Trade what savings of dollars on the importation of American films he has achieved since he took office; and what further action in this direction he contemplates.
§ Mr. H. StraussThe dollar cost of American films has been limited by the Anglo-American Film Agreement, first negotiated by the previous Government and continued, with modification, by the present Government. This Agreement limits the amount which United States 2611 interests may convert into dollars out of the revenues accruing to them from the showing of films in the United Kingdom and certain other territories. The difference between the total sterling revenues accruing and the amount convertible into dollars has been approximately £5£6½ million in each of the last two years. The Agreement, as modified last year, has recently been renewed for a further year.