HL Deb 18 July 1966 vol 276 cc288-9

2.39 p.m.

VISCOUNT HALL

My 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, in view of the resistance of consumer spending at home to present restrictive measures and the failure to bring our international payments into balance this year, whether they are contemplating further measures to strengthen the pound's standing as a national currency in order to bring it into line with the confidence it has been given as a reserve currency abroad by the international central bankers support; and, if so, whether these further measures will be introduced before the Summer Recess.]

LORD SHEPHERD

My Lords, I have nothing further to add to the Statement made by the Prime Minister in another place, and repeated by my noble friend the Leader of the House last Thursday.

VISCOUNT HALL

My Lords, while I appreciate what my noble friend has said, and that since putting down this Question a great deal has happened and a great deal been said, may I ask him whether a clear-cut corrective measure will be available for the annual meeting of the I.M.F. in September of this year?

LORD SHEPHERD

My Lords, the Statement which my right honourable friend the Prime Minister undertook to make will certainly be made before September.

LORD CARRINGTON

My Lords, may I ask the noble Lord whether he can confirm the reports in the newspapers that there will be a statement on Wednesday?

LORD SHEPHERD

My Lords, all I can say to the noble Lord is that I expect an announcement to be made in another place later this afternoon on the date of that Statement; but at this moment I should not wish to disclose it to the House.

LORD ALPORT

My Lords, in view of the congestion of Business at this time of year, may I ask whether there will be an opportunity in your Lordships' House for a debate upon the economic and financial situation?

LORD SHEPHERD

My Lords, my noble friend the Leader of the House has just said that this House is extremely flexible in arranging its Business. The noble Lord will be aware that a Finance Bill has to be passed by this House before the Summer Recess, and in the past it has been made the opportunity for a debate on the general economic situation.