§ 14. Mr. Winnickasked the Chancellor of the Exchequer whether is is proposed to ask the International Monetary Fund to rephase the United Kingdom loan repayment.
§ Mr. CallaghanI would refer my hon. Friend to my reply to the hon. Member for South Angus (Mr. Bruce-Gardyne) on 28th February, 1967.
§ Mr. WinnickCan my right hon. Friend say whether we shall be repaying our loan commitments for this year and next year? Can he make any comment on the loan arrangements made last weekend?
§ Mr. CallaghanThe latter part of that supplementary question goes rather wider than the original Question. As regards the first part of the supplementary, the original drawing in November, 1964, was finally repaid on 20th November—yesterday, in fact. As to the next repayments which are due before 1970, when our balance of payments situation begins 1118 to improve as substantially as it should do, this will make the problem of repayment that much easier.
§ Sir A. V. HarveyOn a point of order, Mr. Speaker. Two or three weeks ago you ruled on the Prime Minister's reference to a Question that he answered in the late summer. The Chancellor has now referred to a Question that he answered last February.
§ Mr. SpeakerOrder. The hon. Gentleman does not appear to have read the Ruling that I gave.
§ Mr. CallaghanIt is all right. I checked first.