§ Mr. Warbey
asked the Chancellor of the Exchequer if he will issue a White Paper explaining the extent to which the financial measures taken by him in the past five weeks have arisen out of the necessity of complying with international agreements.
§ Mr. Callaghan
This country is party to many international agreements which involve reciprocal rights and obligations. These are in the interests of our trading partners and ourselves, though they necessarily limit our choice of action. As regards the Standby Agreement with the International Monetary Fund, I would refer my hon. Friend to the reply which the Chief Secretary gave him on 24th November. This agreement contained no stipulation about the economic policies we should pursue.