§ 33. Mr. Biggs-Davison
asked the Chancellor of the Exchequer to what 1286 extent drawings on the foreign exchange reserves to meet obligations incurred in the financing of imports by acceptance credit are outweighed by the invisible earnings derived therefrom.
I regret that the available statistics do not provide the necessary information. The total of acceptances of all kinds outstanding at 31st March last—£145 million—was, however, only £5 million higher than the total at 31st March, 1958. These figures cover not only United Kingdom trade but also trade between countries overseas.