HC Deb 24 February 1964 vol 690 cc31-2W
Mr. A. Lewis

asked the Chancellor of the Exchequer whether he is aware that the present excess of imports over exports will cause an adverse balance of payments figure of £250 million in 1964, and £600 million in 1965; and what action he proposes to take to redress this imbalance.

Mr. M. Macmillan

I do not follow the hon. Member's calculations. They appear to be mainly derived from the trade figures for a few recent months, which do not by themselves afford a reliable basis either for forecasting the balance of payments up to the end of next year or for policy action.