§ 2.40 p.m.
§ LORD BARNBY
My Lords, I beg to ask His Majesty's Government the question standing in my name on the Order Paper.
§ [The question was as follows:
§ To ask His Majesty's Government with regard to recently announced restrictions on remittance of emigrants' funds, on which an estimated saving of £4,000,000 sterling may be expected in 1948:
- (a)Whether this estimate refers to the actual emigrant applications submitted in 1948 for transfer in that year, or whether it embraces the total applied for, for transfer over the four year period;
- (b)What was the total amount of emigrant funds transferred to Canadian dollar account in 1947, and what proportion of same in sums in excess of £1,000;
- (c)What was the total amount of emigrant funds transferred to Australian sterling account in 1947.]
§ LORD AMMON
My Lords, the estimate relates to the amounts which it was expected would be actually transferred during the year, and not to the total amount applied for in respect of the four-year period. The total amount transferred to Canada by emigrants in 1947 was £5,500,000. The amount transferred by emigrants who were entitled under the 604 arrangements then in force to transfer amounts in excess of £1,000 is not readily available, but a rough estimate suggests that it was probably rather more than one half of the total amount. As Australia is within the scheduled territories, no limit is placed on the amounts which may be transferred through banking channels to that country, and I therefore regret that particulars of the amount transferred by emigrants are not available.
§ LORD BARNBY
My Lords, may I make the following comment arising out of that reply? Since not more than £2,500,000 is estimated as the amount likely to be applied for in any one year, it would seem, in view of the assistance being given by Canada, that restrictions cannot be worth while. I hope the noble Lord will be good enough to make representations in the appropriate quarter that, in the light of consideration for Canada, to whom we are so deeply indebted, the existing order may be reviewed.