§ 5. Mr. Crawfordasked the Chancellor of the Exchequer what was the exchange rate between the £ sterling and the Norwegian kroner at the latest available date and what was the exchange rate at comparable dates in 1974, 1973 and 1972.
§ Mr. Edmund Dell£1 equalled 11.243 kroner on 17th December this year and 12.275, 13.075 and 15.46 at comparable dates in the years in question.
§ Mr. CrawfordIs the Minister aware that the happy revaluation of the Norwegian kroner in the past few years is precisely the sort of thing that will happen to the oil-backed Scots pound of a self-governing Scotland? Will he not agree that a self-governing Scotland will benefit much more from a strong £ Scots than it does at present from the paltry piece of green paper that passes for the £ sterling? Is he not further aware that one of the first duties and responsibilities of a self-governing Scotland will be to assist its friends and neighbours in England to regain their prosperity, too?
§ Mr. DellScotland will benefit most from an integrated United Kingdom economy. An examination of the experience of many industrialised countries since the war shows that success in achieving greater prosperity does not rely upon the availability of raw materials, 1628 welcome though that is. We should do better to continue to improve our manufacturing industry in Scotland and in England.
§ Mr. Alexander FletcherWill the right hon. Gentleman remind the hon. Member for Perth and East Perthshire (Mr. Crawford) that last night he voted for £162 million worth of the currency he despises?