HL Deb 05 March 1952 vol 175 c486

2.45 p.m.

LORD HAWKE

My Lords, I beg to ask the Question which stands in my name on the Order Paper.

[The Question was as follows:

To ask Her Majesty's Government when they expect the measures taken to restrict imports to start becoming effective on a scale sufficient to exercise appreciable influence on the adverse balance of trade.]

VISCOUNT SWINTON

My Lords, the effect of the measures announced by my right honourable friend the Chancellor of the Exchequer in November and January on imports will be spread over the current calendar year. Goods in transit when the restrictions were imposed have been allowed without import licence, and special licences have been issued to permit delivery of imports subject to outstanding contracts under irrevocable credit arrangements and in other exceptional circumstances. The full incidence of the measures taken, therefore, has not yet been felt, but we can expect to see an appreciable reduction in the adverse balance of trade in the course of the next few months.