§ 23. Mr. Bruce-Gardyne
asked the Chancellor of the Exchequer what estimate he has made of the additional cost to the balance of payments of interest payments on central bank swaps or additional borrowings from international institutions designed to postpone the repayment of earlier borrowings due to mature in 1969–70 until 1971–72 or 1972–73.
§ Mr. Harold Lever
This is a hypothetical question and there is no satisfactory basis on which it can be answered.
§ Mr. Bruce-Gardyne
Is the hon. Gentleman aware that this is not a hypothetical question and that very substantial additional interest charges will be incurred by the Government thanks largely to the dilatoriness of the Chancellor of the Exchequer last spring? Would he undertake to ensure that any conditions which are imposed on additional borrowing overseas by the Government will be fully explained to, and debated by, the House?