§ 74. Mr. Wyattasked the Chancellor of the Exchequer why authority has been given to Pocket Books, Incorporated, of New York, to convert into dollars earnings in the United Kingdom up to a value of 218,750 dollars although all the services that Pocket Books, Incorporated, can provide both on the home market in Britain and in the export trade are adequately covered by British firms.
§ Mr. GaitskellMy hon. Friend is misinformed. No such authority has been given. We have approved an investment project in the United Kingdom by this Company and also a transfer guarantee by E.C.A. for the amount mentioned in the Question.