§ 83. Mr. Errollasked the Chancellor of the Exchequer what steps he is taking to ensure that Brazilian cruzeiros accruing to this country are applied in the reduction of outstanding trade debts with United Kingdom firms.
§ Mr. R. A. ButlerTrade between Brazil and the sterling area is conducted in sterling and, therefore, the cruzeiros paid in by Brazilian importers to the Central Bank of Brazil do not accrue to this country, and we have no control over them.
On the subject of the general difficulties of remittance due to Brazil's sterling shortage, I would refer the hon. Member to the reply given on 22nd January by my hon. Friend the Secretary for Overseas Trade to the hon. Member for Walton (Mr. K. Thompson).