§ 60. Sir T. Beamishasked the Chancellor of the Exchequer what is the estimated balance of payments surplus or deficit in the period 1st October, 1964 to 1st April, 1970 on the basis that the basic surplus in the second half of this financial year, as defined in the International Monetary Fund Letter of Intent, continues to run at the annual rate of £350 million; and how this compares with the surplus or deficit resulting in each of the periods 1st July, 1945 to 1st October, 1951, and 1st October, 1951 to 1st October, 1964.
§ Mr. TaverneThe hypothesis which the hon. and gallant Member assumes for the remainder of this financial year does not correspond to any objective to which my right hon. Friend has referred. For 129W periods since 1952 the figures are in published documents. Information is not available in the same form for earlier periods. There was a cumulative deficit on current and long-term capital account of £1,345 million in the thirteen years 1952–64.