§ 2. Mr. Dickensasked the Chancellor of the Exchequer what discussions he has had with the United States Government on current trends in the United States economy as they affect the British economy.
§ Mr. Roy JenkinsMy talks with the Secretary of the Treasury and others in the United States covered these subjects as well as others of mutual interest.
§ Mr. DickensCan my right hon. Friend say something about the effect on the British economy of the proposed 10 per cent. tax surcharge now passed by the House of Representatives Ways and Means Committee, and will he say what conversations or communications he has had with the American Government about the possibility of an American export rebate scheme or import surcharge?
§ Mr. JenkinsThe conversations I have had have been confidential. The American tax increase is a matter for the United States Government, but it is undoubtedly true that we should be glad to see measures which would strengthen the United States balance of payments. On the latter part of my hon. Friend's supplementary question, it is the British Government's view that we should be most loth to see any steps taken which might lead to an escalation of protectionism throughout the world.
§ Mr. Iain MacleodDid the Chancellor have any discussions on the special drawing rights, and has he any more information to give the House on when we may expect a Bill on this matter?
§ Mr. JenkinsNot specifically in America, because my visit to America followed closely after Stockholm, where I had very long discussions both with United States representatives and with others. It is certainly our intention to proceed to ratify the agreement as soon as practicable and desirable, and I think that that would be during the course of this summer.