Australian Import Cuts

HC Deb 29 March 1955 vol 539 cc12-3W

70. Mr. Lee

asked the Chancellor of the Exchequer, in view of the Australian import cuts, what steps he is taking to expand our exports to the level necessary to avoid a crisis in our balance of payments.

Mr. R. A. Butler

The measures I took recently to moderate the expansion of demand at home were expressly designed to encourage exports. I fully recognise the importance of the Australian market to our exporters. But, from the point of view of strengthening sterling, it is most important that the sterling area as a whole should improve its position with the non-sterling world.

72. Mr. Proctor

asked the Chancellor of the Exchequer to endeavour to arrange a conference with the Australian Government with a view to taking measures to avoid balance of payment difficulties between the United Kingdom and Australia.

Mr. R. A. Butler

There is such regular and intimate contact that no such conference is necessary; nor can I accept the position as being quite accurately described by the hon. Member.