§ Mr. J. Freemanasked the Chancellor of the Exchequer whether he will give an estimate of what will be the increase during the financial year 1952–53 of foreign interest liability as a result of the increase in the Bank rate.
§ Sir A. SalterI assume that the hon. Member has in mind our interest liability in respect of the sterling balances of countries overseas. This will depend on the level and composition of these balances during 1952–53 and on how far the rates of interest they earn are influenced by the changes in the Bank rate. None of these factors can be predicted.