§ 4. Mr. Marten
asked the Chancellor of the Exchequer when he next proposes to consult with the Managing Director of the International Monetary Fund about the United Kingdom's economy following on devaluation.
§ Mr. Roy Jenkins
As stated in the Letter of Intent, there will be two further consultations with the I.M.F. during the period of the stand-by arrangement. These will be in July and November, 1968. In addition, the regular annual consultations will take place in May.
§ Mr. Marten
Can the right hon. Gentleman confirm, before he goes to the next meeting, that it is the Government's intention to abide by paragraph 12 of the Letter of Intent to the International Monetary Fund, under which there is no entitlement to a norm or standard increase in pay?
§ Mr. Jenkins
I can confirm that it is the Government's intention to stand by all paragraphs of the Letter of Intent.