§ LORD GRANTCHESTERMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government to give the amount of funds withdrawn from this country during the past twelve months and how much has been received, under bilateral arrangements, during the same period from foreign central banks to neutralise the effect of inconvenient withdrawals.]
§ LORD RHODESMy Lords, the large deficit in our balance of payments in the first half of this year was mainly financed by a net inflow of funds, meaning an increase in our short-term liabilities. Preliminary information indicates that there was also a net inflow over the third quarter as a whole. Data for the subsequent period is not yet available. As regards the second part of the Question, my right honourable friend the Chancellor of the Exchequer recently stated in another place that it had not been the practice to disclose in the past the amount of transactions in recent months, but that he was considering future policy on this matter.
§ LORD GRANTCHESTERMy Lords, I thank the noble Lord for his Answer to the Question. Perhaps I may put it 672 down again at a later date, when Her Majesty's Government have decided the policy they will follow.