HC Deb 26 November 1968 vol 774 c292
31. Mr. Sheldon

asked the Chancellor of the Exchequer what estimate he has now made of the balance of payments for 1968 and 1969.

47. Mr. Stratton Mills

asked the Chancellor of the Exchequer whether Her Majesty's Government still estimates that the United Kingdom will achieve a£500 million annual rate of surplus on its balance of payments some time during 1969; and if he will indicate the basis for this estimate.

Mr. Roy Jenkins

The House will know from my statement of Friday and my speech yesterday of the Government's determination to achieve a decisive and early improvement in the balance of payments. I do not intend to publish exact estimates at present.

Mr. Mills

Can the right hon. Gentleman say whether he adheres to the earlier forecast of£500 million surplus during the course of 1969? Is he aware that when this figures is given by the Treasury to international bodies, it is frankly treated with disbelief?

Mr. Jenkins

Yesterday, the right hon. Member for Bexley (Mr. Heath), who, I know, always has my interests at heart, warned me against publishing too many forecasts. I have published more than has ever been done before, and I do not in the least regret doing it, but I do not think that it is sensible constantly to publish forecasts. But our target remains exactly as previously.

Mr. Biffen

What is "sizeable" and what is "early"?

Mr. Jenkins

"Sizeable" is large and "early" is at the soonest possible moment.

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