§ 10. Mr. Farey-Jones
asked the Chancellor of the Exchequer if he will initiate legislation to denationalise the Bank of England, return to its Court and Governors complete independence of Treasury control, and thus restore confidence throughout the sterling area in the stability and future of the £.
§ Mr. Farey-Jones
Is my right hon. Friend aware that, as a measure of long-term policy, the complete independence of the Bank from diverging political policies would create immeasurable international confidence?
I will not say anything about what used to happen before nationalisation, but if that were to happen now, or at any other time, it would be a most unfortunate situation.