HC Deb 28 January 1971 vol 810 c806
Q3. Mr. Barnett

asked the Prime Minister what discussions he had in his recent talks with President Nixon about international monetary problems.

The Prime Minister

The details of my talks with President Nixon are confidential.

Mr. Barnett

Following the failure to cut Bank Rate today, are we to take it that the Prime Minister is unwilling to change his solutions to these problems so as to bring down the intolerable level of unemployment, and that, therefore, his priority for unemployment is different from that of the late Iain Macleod?

The Prime Minister

As the hon. Gentleman knows, the question of future Bank Rate is never discussed in the House.

Mr. Cant

Whilst I appreciate that the right hon. Gentleman's discussions with President Nixon must be confidential, did he tell President Nixon that his electoral expansionist policy was likely to increase the balance of payments deficit for the United States and put Europe once again in the dilemma of having to accept either dollars or gold? Despite his interest in apartheid and South Africa, will the right hon. Gentleman say that he will not support an increase in the price of gold and devaluation of the dollar?

The Prime Minister

These are matters one does not discuss in the House of Commons. The hon. Gentleman knows full well that as I do not accept his premise, I did not tell President Nixon that.