HC Deb 07 February 1977 vol 925 cc1047-8
34. Mr. Gow

asked the Chancellor of the Duchy of Lancaster when he last met the Managing Director of the International Monetary Fund.

Mr. Lever

I have not had the pleasure of meeting Dr. Witteveen since he took up his present appointment.

Mr. Gow

Has the Chancellor of the Duchy received any communication on the ideas of Dr. Witteveen about the share of the nation's resources taken by public expenditure in this country? Is he aware that, whatever his knowledge of the views of the Managing Director of the IMF, we on the Opposition Benches warmly welcome the Government's new commitment to reduce the share of the nation's resources taken by public expenditure?

Mr. Lever

It is good to have the hon. Gentleman's welcome for almost any action taken by the Government. I shall not scrutinise too closely whether his welcome and what the Government are doing have that relationship with each other that might be even more comforting. The hon. Gentleman must be aware that the Government's policy on expenditure and all other matters has, so far as is relevant, been firmly approved by the International Monetary Fund and Dr. Witteveen.

Mr. George Rodgers

Is my right hon. Friend aware that the recent riots and bloodshed in Egypt following increased food prices followed a visit by representatives of the IMF? Is he aware that it is considered that the increase in food prices was a direct consequence of the Fund's visit? Will my right hon. Friend he cautious in his association with such dangerous people?

Mr. Lever

I have noted the conjunction of circumstances to which my hon. Friend draws the attention of the House. It may well have an interesting significance for each and every one of us to ponder. I can only say that there has been no evidence of similar incidents in this country after the visit of the Fund. The Fund is composed only of human beings. It has not descended from the heavens with authority to determine with total wisdom every issue that every Government have to decide. At the end of the day the British Government must take full responsibility for their own decisions and must judge them to be the right ones. I hope that that will always be so.