HC Deb 12 December 1945 vol 417 cc584-5W
Sir W. Smithers

asked the Chancellor of the Exchequer to estimate the excess of debits over credits in the balance of payments of the United Kingdom for 1945, disregarding Lend-Lease, gifts from Canada and the importation of goods imported for overseas armies stationed in this country.

Mr. Dalton

We estimate the deficit in the United Kingdom current balance of payments in 1945 at the order of £750 million. This disregards supplies and services received on Lend-Lease and Canadian Mutual Aid and supplies and services furnished to U.S.A. on Reciprocal Aid. It also disregards similar supplies received and furnished after V.J.- Day which will be covered by the American credit according to paragraph 3 (a) of the Joint Settlement for Lend-Lease and Reciprocal Aid. It likewise disregards imports on account of foreign Governments for their armed forces stationed in this country