§ 91. Mr. Higgins
asked the Chancellor of the Exchequer what has been the amount accruing to the United Kingdom gold and convertible currency reserves from the arrangement whereby 25 per cent. of the proceeds from the sale of resident-held foreign currency securities on the investment currency market has to be changed into sterling at the official rate of exchange, between April, 1965, and the latest convenient date.
§ Mr. Diamond
As my right hon. Friend announced in his Budget speech, receipts in the first year of the scheme were rather over £70 million. Since then receipts have been running at a slightly lower rate.