HC Deb 04 February 1954 vol 523 c554
48. Mr. H. Wilson

asked the Chancellor of the Exchequer the total value of gold received by this country from the Union of Soviet Socialist Republics in the fourth quarter of 1953.

Mr. Maudling

No, Sir. It is not the practice to disclose details of our gold transactions with particular countries.

Mr. Wilson

As the hon. Gentleman knows, the figures are reputed to be about £35 million in the fourth quarter, and, as the Minister of State, Board of Trade, informed the House, two days ago, that we have imported £10 million worth of certain strategic materials from the Soviet Union in 1953, will not the hon. Gentleman recognise that trade with the Soviet Union is now one of our best gold earners—which is, of itself, a strategic material—and encourage exports to that area?

Mr. Maudling

As my right hon. Friend has made clear on more than one occasion, we do consider that an expansion of trade with the Soviet Union in peaceful goods will be for the general benefit.

Mr. Wilson

Since these figures involve not only gold but £10 million worth of other strategic materials, has not the time come to relax control of so-called strategic goods?

Mr. Maudling

The right hon. Gentleman's argument merely strengthens the argument for the policy already adopted by the Government.