§ 16. Mr. Sheldonasked the Chancellor of the Exchequer if he will make a statement of the balance of payments for the second half of 1968 and the first half of 1969.
§ The Financial Secretary to the Treasury (Mr. Harold Lever)Figures for the balance of payments in the fourth quarter of 1968 will be published in mid-March. An estimate for the first three quarters was published on 12th December. I cannot add anything to my right hon. Friend's earlier forecasts for 1969.
§ Mr. SheldonIn view of the very disappointing recent trade figures, does my hon. Friend agree that it is time we went for the greatest degree of certainty possible today? Will he re-examine the Treasury's obsessional fear of the use of import quotas?
§ Mr. LeverNo, Sir. The recent trade figures, far from being disappointing, are encouraging because of the underlying 230 improvements in our situation which are evidenced. I am not authoritative on any obsessional fears in the Treasury, and I do not propose any therapeutic action about them until I am more satisfied of their existence.
§ Mr. Iain MacleodThe Finance Secretary referred to the Chancellor's earlier forecast. Does he mean the White Paper forecast issued at the time of the Budget or any later observations?