61. Colonel Hutchison
asked the Chancellor of the Exchequer if he will make a statement on the results of Anglo-Egyptian discussions on sterling balances.
§ Mr. Dalton
I can add nothing at present to the announcement made in Cairo, a copy of which I will, with permission circulate in the OFFICIAL REPORT.
Press Communique issued in Cairo on 4th MarchThe initial discussions on sterling balances conducted by official delegations representing the Governments of Egypt and the United Kingdom have now been concluded. At these preliminary discussions the whole field was surveyed in a spirit of candour and friendliness.The circumstances in which the balances had accumulated were examined and methods for dealing with the position, having regard to the economic needs and difficulties of both countries, were considered. Each side now has a much fuller understanding of the standpoint of the other. It has been agreed that the official delegations should report to their respective Governments.