§ 7. Mr. Gouldasked the Secretary of State for Trade why it is no longer the practice to provide in the trade statistics the origin and destination of imports of gold bullion.
§ Mr. MeacherGold bullion shipments are not included in the trade statistics. I understand that publication of the country analysis of gold bullion shipments, available from Customs records, ceased during 1977 to safeguard supplies to the London market.
§ Mr. GouldIs it not possible to imagine circumstances in which the sale of gold bullion and the question of who is to sell it would be of great significance—a significance going well beyond the bullion market? Should not this information be publicly available rather than be suppressed, as is now happening?
§ Mr. MeacherIt may indeed be of wider interest, but the origin and destination of gold bullion imports have been excluded from the trade statistics because that could reveal selling activities which some countries might regard as commercially confidential and they would be able to switch their supplies to other markets, 984 which would not be in our long-term interests. That is why they have been excluded from the statistics.