§ 1. Mr. Biffenasked the Chancellor of the Exchequer if he will commission a study to determine the advantages of a floating exchange rate for sterling.
§ Mr. BiffenIs not the Chancellor aware that there are ominous signs of our yet again running into balance of payments problems, and, further, is he aware of the widespread and substantial advocacy by many non-party people that a floating rate of exchange is one way of curing the endemic sterling crises?
§ Mr. CallaghanI am aware that a number of people feel that, but it is not the policy of the British Government.