§ 64. Viscount Hinchingbrooke
asked the Chancellor of the Exchequer whether he is aware that the figure of £236 millions stated as a balancing item in the General Balance of Payments for July-December 1960, Command Paper No. 1329, throws doubt on the validity of all the other items in the account, and that this is the largest figure for some years; whether he will have investigations made to determine which items are accurate and which are estimated; and if he will communicate the result to the House.
§ Mr. Barber
The balancing item for the second half of 1960 was abnormally high and was associated with the exceptionally large inflow of funds during that period. I do not accept that this throws doubt on the validity of all the other items in the Accounts. My noble Friend will find that the methods of compiling the balance of payments statistics are already described in the Notes and Definitions annexed to each Balance of Payments White Paper.