§ Mr. Osborneasked the Chancellor of the Exchequer if, in view of the recent recovery in the three months transferable sterling rate in New York, he will make a statement on the possibility of freeing the sterling-dollar exchange rate and allowing sterling to find its own level.
§ Mr. R. A. ButlerWhile I have been glad to note the tendency referred to in the first part of the Question, I do not think an arrangement such as is proposed in the second half would serve the public interest.
§ Mr. Osborneasked the Chancellor of the Exchequer if he will make a statement on the official talks with the United States authorities regarding the fall in sterling commodity prices, and the rise in dollar commodity prices since April, 1951, and their effect upon the sterling-dollar exchange rate.
§ Mr. R. A. ButlerI am fully aware of the fact that recent movements in the relative prices of dollar and sterling area commodities have added substantially to our dollar difficulties, but I am not in a position to make a statement at present.