§ 68. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer the nature of the capital transactions under Article 27 of the European Payments Agreement which will be excluded from the net cumulative overall position and which can be controlled by exchange control regulations, respectively.
§ Sir S. CrippsParagraph 27 would be applicable, for example, in the case of a loan raised by one member country in another member country and would enable the parties to agree that the proceeds should be brought into the clearing only as and when they are actually spent. This paragraph is not intended to affect such transactions as are normally allowed by the exchange control authorities of the country concerned.
§ 69. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer the anticipated additional value of imports to this country under the European Payments Union from members of the Union during the present year and in the first quarter of 1951, respectively.
§ Sir S. CrippsI regret that it is not possible to make any reliable estimate of the increase in imports into the United Kingdom that may be expected as a result of the establishment of the European Payments Union.
§ Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer the amount 152W of sterling to be made available to the European Payments Union under Article 25 of the agreement of 7th July, 1950.
§ Sir S. CrippsNone.