HC Deb 04 November 1949 vol 469 c83W
Mr. E. Fletcher

asked the Chancellor of the Exchequer what changes it has been decided to make in the treatment of legacy payments to persons resident outside the sterling area.

Sir S. Cripps

In order to reduce our gold and dollar outgoings, it has been decided to restrict the transfer of legacies to residents in hard currency countries to the first £500 of each bequest; and the remainder will be paid to blocked accounts. This will apply to all applications for the transfer of legacies to Canada, the U.S.A., American account countries, Belgium, and Switzerland, except those actually lodged with banks in the United Kingdom on or before 3rd November. The concession of unrestricted transfers of legacies to other countries will continue unchanged.