HC Deb 18 February 1954 vol 523 cc2127-8
5. Lieut.-Colonel Lipton

asked the Chancellor of the Exchequer for what purposes, other than the purchase of Canadian barley, unlimited amounts of dollar currency are available on application by private individuals.

Mr. Maudling

Dollars are freely available for payments for certain services and for goods which are on world open general licence or for which the Board of Trade have issued an open individual licence covering imports from the dollar area.

Lieut.-Colonel Lipton

I regret the vague nature of that reply. Is the Economic Secretary of opinion that the balance of payments position has moved so much in our favour as to justify unlimited dollar expenditure on commodities of which the Ministry of Food hold vast stocks, which can only be sold at a loss of millions of pounds to the taxpayer?

Mr. Maudling

I do not know what was vague about my reply; the hon. and gallant Member asked for certain information, which I have given him. Particulars of the articles on world open general licence are contained in the first schedule of the current open general import licence and range from pig iron to natural untrimmed silkworm gut.