HC Deb 23 July 1953 vol 518 cc59-60W
67. Sir H. Williams

asked the Chancellor of the Exchequer if he has any statement to make with regard to the views on the convertibility of the £ sterling expressed in the Fourth Annual Report of the International Monetary Fund; and whether, in connection with the scheme foreshadowed by the fund for letting the £ find its own value, he will take steps to liberate this country from the restrictions of the General Agreement on Tariffs and Trade as a necessary corollary to freeing the £.

Mr. Maudling

I cannot usefully add anything to my right hon. Friend's statement of 17th March in which he underlined the conditions precedent to sterling convertibility. The I.M.F. Report emphasises the importance of these conditions. In answer to the second part of the Question, I am not aware that a scheme in the terms stated has been foreshadowed in the Report.