§ Mr. G. Straussasked the Chancellor of the Exchequer whether he is aware that the authorisation of the recent Woolworth issue involves a reduction in the gold resources of the Exchange Equalisation Fund of £6,000,000; and whether he can state the reason for this authorisation in view of the recent substantial decrease in the gold stock?
§ Sir J. SimonI would refer the hon. Member to the full statement which I made at the end of Questions on the 1st February last as to the policy to be followed in respect of applications to the Foreign Transactions Advisory Committee, falling within certain categories 383W The operation in question fell within these categories.
Our general policy as regards foreign lending is under constant review but so long as the statement to which I have referred governs the matter, I should find it difficult to single out any particular operation for unusual treatment.