HC Deb 01 July 1969 vol 786 cc231-2
30. Mr. Hordern

asked the Chancellor of the Exchequer if he will provide figures showing domestic credit expansion as a whole, and of the central Government borrowing requirement within it, at quarterly intervals.

Mr. Taverne

Yes, Sir. These figures will be provided, along with figures for the money supply, in the usual official publications.

Mr. Hordern

Will they be provided at regular quarterly intervals in the same way as they will be provided to the International Monetary Fund? Does the hon. and learned Gentleman recognise how essential it is that these figures should be so provided, as it was the activities of the Government Broker that were largely responsible for the large increase in the money supply last year? Will he now say what the rôle of the Government Broker is after the Letter to the I.M.F.?

Mr. Taverne

The figures will be provided as soon as they are firm enough. A number of factors determine when they can be published. First, it takes some time for the figures to become available. Secondly, when it comes to the question of sales of Government debt there must be a suitable interval of 10 weeks or so, as has been recognised in the past, otherwise market operations might he prejudiced. The figures will be published as soon as they are firm and as soon as it is reasonable for them to be published.