38. Earl of Dalkeithasked the Chancellor of the Exchequer whether he will restore the £250 foreign travel allowance to those private individuals who do not purchase foreign motor cars, and make it a requirement for those who do so to have the information concerning the basic price paid for it noted in their passports, so that their allowance is reduced to £10 per year for every £240 so spent.
§ Mr. DiamondNo.
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§ Sir C. Osborneasked the Chancellor of the Exchequer what is the estimated annual saving to the balance of payments through the imposition of the £50 maximum personal travel allowance.
§ Mr. CallaghanExpenditure by United Kingdom residents on travel to all countries abroad is tentatively estimated to be £15–20 million less in 1967 than in 1966, in contrast to the annual increases ranging between £7 million and £31 million in the previous four years. These figures are less than the savings in foreign currency. The exchange control restrictions are not the only factor, but are an important one.