§ GREATER LONDON COUNCIL (GENERAL POWERS) (NO.2) BILL (By Order)
§ Orders for Second Reading read.
§ To be read a Second time upon Thursday 1 May.
§ Mr. Robert Sheldon
Has the Prime Minister noted today's further rise in the value of the pound? Does she realise that that will present further problems for our manufactured exports and greater opportunities for manufactured imports, to the great disadvantage of British industry? When will she instruct the Governor of the Bank of England to sell sterling and reduce the value of the pound?
§ The Prime Minister
If I were to instruct the Governor of the Bank of England to sell sterling, to go on and on selling it and to resist the market, the money supply would go through the roof and we should be laying the foundations for the next round of inflation.