HC Deb 10 November 1977 vol 938 c845
20. Mr. Lawson

asked the, Chancellor of the Exchequer if he will now rescind the prohibition of the use of sterling finance for third country trade, introduced in November 1976; and if he will make a statement.

Mr. Joel Barnett

I do not think that the time has come to consider any restoration of this particular use of sterling in international trade.

Mr. Lawson

Why not?

Mr. Barnett

There is a very good reason. United Kingdom merchants and banks are already doing very nicely as the matter stands.