HC Deb 12 November 1953 vol 520 cc59-60W
52. Mr. N. Macpherson

asked the Chancellor of the Exchequer to what uses it has been mutually agreed between Her Majesty's Government and the Government of the United States of America that sterling paid by British importers for United States surplus foodstuffs and tobacco will be put.

Mr. Maudling

My right hon. Friend has received assurances from the United States Administration that the sterling proceeds of the surplus United States commodities which Her Majesty's Government have so far proposed to purchase will be applied in relief of the United Kingdom defence budget.