HC Deb 15 March 1955 vol 538 c111W
Captain Pilkington

asked the Chancellor of the Exchequer by how much the gold and dollar reserves fell from June to October, 1951, expressed in sterling and in dollars and as a percentage.

Mr. R. A. Butler

By £326 million sterling, 914 million dollars or 23.6 per cent. between 30th June and 31st October. I had the figure of 914 million dollars in mind when replying to a supplementary question by the right hon. Member for Leeds, South (Mr. Gaitskell) after my statement on Thursday, 24th February. I understand that the round figure of 900 million dollars which I then quoted appeared in the Official Report as £900 million sterling, but that this error was corrected by means of an erratum notice in the Official Report of Friday, 25th February.

The figure of 600 million dollars, which the right hon. Member quoted in his supplementary question on Tuesday, 1st March, appears to relate to the decline in the gold and dollar reserves of 598 million dollars between 30th June and 30th September, 1951.