HC Deb 23 June 1959 vol 607 cc1016-7
31. Mr. Cronin

asked the Chancellor of the Exchequer, in view of his recent discussions with the West German Finance Minister, if he will make a statement on the present policy of Her Majesty's Government on convertibility on current account for resident sterling.

Mr. Amory

The Government's policy remains as stated, to continue the removal of restrictions on trade and payments as and when we are able to do so, thus giving the greatest freedom of choice to our own people and contribute to the expansion of world trade.

Mr. Cronin

Will the Chancellor reassure the House that he will not let the siren voices of the Bundesbank cause him to put us in a vulnerable position leading to a large flight of capital?

Mr. Amory

I have always indicated that we shall continue to take these steps as and when the moment arrives at which we can do so safely and with advantage to our own economy and benefit to world trade.