HC Deb 30 November 1972 vol 847 cc249-50W
Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer whether sums paid from the United Kingdom reserves in compensation to official overseas sterling holders for the depreciation of the dollar parity of the £ sterling will be recoverable under the terms of the Basle agreements when the exchange rate exceeds 2.3760 dollars, or 2.40 dollars, respectively; and if he will make a statement.

Mr. Nott

The arrangement under the sterling agreements provide in detail only for the first implementation, which be-

to November, inclusive; and what were the rates in 1970 and 1971.

Mr. Dudley Smith

Following is the information:

EEC countries. However, it is possible to derive figures for the national accounting concept of operating surplus for all but the latest years, and these are presented below as a percentage of national income. The figures relate to all trading activities including farming, whether in the public or private sectors and whether incorporated or unincorporated. The different level of the percentages largely reflects different economic structures in the countries concerned; in particular, there are substantial differences between countries in the proportion of the working population which is self-employed.

came due on 23rd November. The arrangements for this first implementation were described in my answer to my hon. Friend the Member for Enfield, West (Mr. Parkinson) on 9th November. Subsequent arrangements are subject to consultations now in progress.