HC Deb 18 December 1956 vol 562 cc1072-3
2 Mr. Langford-Holt

asked the Chancellor of the Exchequer (1) whether, under Clause 12 of the General Agreement on Tariffs and Trade, which permits members to institute import restrictions to stop a serious decline in their monetary reserves, he will limit the import from the United States of America of all goods which can be obtained from the Commonwealth, Empire, or other non-dollar sources;

(2) in view of the serious decline in our monetary reserves, what imports from the United States of America he intends to curtail, so that our dollar reserves may be devoted to essential purposes;

(3) in order to stop a serious decline in our monetary reserves, if he will now limit the import of American tobacco in accordance with Clause 12 of the General Agreement on Tariffs and Trade.

14 and 15. Mr. Biggs-Davison

asked the Chancellor of the Exchequer (1) what plans he has to limit less essential dollar imports; and by what means;

(2) whether he is satisfied that he has adequate powers to regulate less essential dollar imports, should the present emergency make that necessary; and if he will make a statement.

The Chancellor of the Exchequer (Mr. Harold Macmillan)

I have nothing to add to the statement I made to the House on 4th December and to the reply I then gave to the hon. Member for Shrewsbury (Mr. Langford-Holt).

Mr. Langford-Holt

Will my right hon. Friend agree that, by restricting our imports for dollar currency, he would be freeing trade rather than restricting it so far as the rest of the world is concerned? Would he consider discussing with the tobacco companies whether they might not now begin having a higher percentage of Imperial and Commonwealth tobacco in the cigarettes smoked in this country?

Mr. Macmillan

With regard to the general question, as I stated previously, I am sure that making world trade the greatest possible amount is in the longterm interests of this country. As to the dollar question specially, more than half our dollar imports are under control and restriction, and, broadly speaking, they are nearly all essentials. With regard to the special point that my hon. Friend raised, that is another question which has already been answered in the House.

Mr. Langford-Holt

In view of what he has said, will my right hon. Friend again look at the question of what are essentials and what are not, because a lot of non-essentials appear to be coming in to the disadvantage of essentials required by industry?

Mr. Macmillan

I will look at it, but I think the facts are not so and that, broadly speaking, it is the essentials that we import.

Mr. Gordon Walker

The right hon. Gentleman said that the question about Commonwealth tobacco had already been answered, but does he not appreciate that it has been unsatisfactorily answered? This is something which could save dollars very quickly.

Mr. Macmillan

Yes, Sir, but it is not an immediate problem.