26. Mr. J. T. Priceasked the Chancellor of the Exchequer what steps he is taking to ensure that the £740 million borrowed from the International Bank is held in reserve and not released for speculative overseas investment carrying the special concessions from imperial taxation provided in Part IV of the Finance Act, 1957.
§ Mr. BarberI assume the hon. Gentleman is referring to our recent drawing from the International Monetary Fund. The proceeds of this drawing were placed in the reserves, which are used for the support of sterling. Any change in the tax provisions relating to overseas trade corporations would be a matter for the Budget.