HC Deb 12 July 1955 vol 543 c1727
28. Mr. Roy Jenkins

asked the Chancellor of the Exchequer the quantity of gold imported from the Soviet Union since 1st January, 1955.

The Chancellor of the Exchequer (Mr. R. A. Butler)

The figures for the first half of 1955 are now available; in this period about 8.3 million troy oz. of gold bullion with a value of about £104 million was imported from all sources, of which about 1.4 million troy oz. with a value of about £17 million came from the Soviet Union. As the hon. Member will be aware, the amount of gold imported does not necessarily correspond with the amount of gold purchased from overseas countries.

Mr. Jenkins

Does the right hon. Gentleman not agree that this represents a substantial increase in imports from the Soviet Union as compared with the last six months of last year, and that this must be taken into account in considering our present reserve position?

Mr. Butler

Naturally it must be taken into account, although it is a little difficult to establish exactly its relative importance to other imports.