HC Deb 21 February 1956 vol 549 c182
31 and 32. Mr. Mulley

asked the Chancellor of the Exchequer (1) the total value of dollar securities at the date of acquisition of those securities compulsorily acquired during the war; and what is their present estimated value;

(2) what proportion of the dollar securities, compulsorily acquired during the war, has since been resold; and for what reason.

Mr. H. Macmillan

It is not the practice to give details of the assets of the Exchange Equalisation Account. I can say, however, that the value of the dollar securities compulsorily acquired during the war was about £190 million and that a substantial proportion of these was sold to pay for the war. I am not prepared to give the present value of the remaining securities.

Mr. Mulley

Will the Chancellor at any rate give an assurance that no further sales of these securities will take place? Is he aware that the current issue of the Midland Bank Review predicts that further sales of these securities are contemplated? Will he at least give an assurance that that is not the case?

Mr. Macmillan

No, Sir. I think I must stand on the position that it has never been the practice of any Chancellor of the Exchequer to give details of this Account.