HC Deb 26 October 1971 vol 823 c1464
18. Mr. Dalyell

asked the Chancellor of the Exchequer if he will make a statement on his latest official visit to the International Monetary Fund.

Mr. Barber

May I first say how delighted I know the House is to welcome back my hon. Friend the Member for Edinburgh, North (Earl of Dalkeith).

Hon. Members

Hear, hear.

Mr. Barber

I attended the joint International Monetary Fund and World Bank annual meetings in Washington from 27th September to 1st October.

Progress was made in establishing the means by which countries collectively will work towards a resolution of the difficult problems which now face the world on the international monetary scene.

Governors were generally agreed about the need for a longer-term reform of the structure of the international monetary system and about the direction which that reform should take. I had the opportunity of putting forward some specific proposals which will, I hope, contribute to the work now set in hand.

Mr. Dalyell

When asked about United Kingdom investment for 1972 by the wise men of the I.M.F., did the Chancellor reply with the same conundrum as was used by his Chief Secretary to the House of Commons?

Mr. Barber

I was not asked that by the I.M.F., but I agree with the answer given by my hon. Friend.