HC Deb 27 October 1953 vol 518 cc341-2W
61. Mr. Gaitskell

asked the Chancellor of the Exchequer whether he will make a statement on the recent decision of the South African Government to end discriminating import controls which have, hitherto, operated in favour of the United Kingdom and against goods from the dollar area.

Mr. R. A. Butler

As stated by the South African Minister of Finance on 16th October, the South African Government has decided to end, with effect from the beginning of next year, the Union's present discrimination against

tax receipts from April to the latest available date, with comparable figures for the corresponding months of 1952.

Mr. R. A. Butler

The answer is as follows:

imports from the dollar area. At the same time, the South African Government has agreed to renew the guarantee of gold sales to the United Kingdom to the value of £50 million in 1954. South Africa is in a special position in the sterling area, and does not draw upon the central gold and dollar reserves, but provides her dollar requirements from her own resources. Nevertheless, the Union's guarantee of minimum gold sales to the United Kingdom in recent years has been a valuable contribution to the central reserves and we are grateful for the part South Africa has played, together with other Commonwealth countries, in helping to improve the position of sterling.