HC Deb 02 March 1948 vol 448 c56W
Mr. Monslow

asked the President of the Board of Trade whether he can now give any further information about the operations of the token import policy in 1948

Mr. H. Wilson

As I explained on 18th December in reply to a question by my hon. Friend, the present policy is for the Token Import Scheme to apply in 1948 only to those countries which offer an adequate return within our general trade arrangements with them. In accordance with this policy and as a result of discussions which have so far taken place, we have agreed that the scheme should be applied to Australia, Canada, Denmark, France, Holland, India, Italy, Pakistan, Sweden, Switzerland, and the United States. The annual quota will remain 20 per cent. by value of each overseas manufacturer's pre-war trade with the United Kingdom. The inclusion of further countries in the scheme for 1948 will depend on the outcome of discussions with them.