HC Deb 15 November 1966 vol 736 c52W
49. Mr. Biggs-Davison

asked the Chancellor of the Exchequer which sterling area countries have taken steps to convert their sterling reserves into gold, dollars or other currencies; and whether he will make a statement.

Mr. Callaghan

So far this year there has been a net rise in the balances of the Sterling Area as a whole. As regards the balances of individual countries, this is a banking matter.

50. Mr. Cant

asked the Chancellor of the Exchequer whether, as an aspect of the long-term reappraisal of the British economy, he will institute a full-scale analysis of the working of the sterling area.

Mr. Callaghan

All these matters are the subject of continuous study.