§ 62. Sir G. Foxasked the Chancellor of the Exchequer if he will consider adopting in his negotiations with the American film industry the arrangements made by Australia to deal with the dollar cost of imported American cinematograph films.
§ Sir S. CrippsNo. They would not be appropriate to our situation. As I understand it, they consist in the investment in Australia for a fixed period of a proportion of the earnings of American films shown there. As I stated in my reply of 27th January to the hon. Member for the Isle of Wight (Sir P. Macdonald), His Majesty's Government in the United Kingdom are not prepared to substitute for the Customs duty any arrangement involving the holding of blocked sterling.