§ 20. Mr. Shepherdasked the Chancellor of the Exchequer what was liability incurred by the United Kingdom as sterling area bankers for the rest of the sterling area in the years 1960 to 1964, making allowances for gold sold to the United Kingdom for sterling during the same period; and what estimate he has made of the gold and dollar liability in the same period in respect of the United Kingdom's trade with Canada.
§ Mr. CallaghanThe reserves of overseas sterling area countries deposited with the United Kingdom—that is, our net sterling liability to them—rose by around £100 million in this period. With permission, I will circulate figures for the individual years in the OFFICIAL REPORT. Canada does not bank her reserves with this country.
§ Following are the figures:
| BALANCES OF OVERSEAS STERLING COUNTRIES | |||
| End-year | £ million | ||
| Overseas sterling holdings (net) | 1959 | 2,704 | fall of £29 million |
| 1960 | 2,478 | ||
| 1961 | 2,631 | ||
| 1962 | 2,675 | ||
| External liabilities and claims in sterling (net) | 1962 | 2,298 | rise of £130 million |
| 1963 | 2,469 | ||
| 1964 | 2,428 |