HC Deb 03 June 1954 vol 528 cc1445-6
36. Mr. Grimond

asked the Chancellor of the Exchequer the total value of the licences for the transfer of sterling earned by charters from British oil companies which have been granted to Mr. Onassis.

Mr. Boyd-Carpenter

It would not be in accordance with normal practice for me to disclose details of individual transactions of this kind.

Mr. Grimond

This is not an entirely normal practice in any respect. Is the Financial Secretary aware that money earned from British companies is being used to found a monopoly in the shipment of Saudi Arabian oil to the exclusion of British interests?

Mr. Boyd-Carpenter

The practice to which I referred is the practice of granting licences for the transfer of sterling. I think that the hon. Gentleman will appreciate that, just as in the case of individual taxpayers, it would be neither convenient nor appropriate to give the details of individual transactions in reply to a Parliamentary Question. The broader matters to which he refers are, of course, important, but go far beyond sterling exchange control.