Commonwealth Countries (Sterling Balances and Economic Policy)

HC Deb 16 July 1957 vol 573 cc105-6W

79. Mr. Grimond

asked the Chancellor of the Exchequer to what extent the future of the balances held in London by other Commonwealth countries was discussed at the recent Commonwealth Conference; and what policy in regard to this was agreed.

Mr. P. Thomeycroft

I would refer the hon. Member to the Final Communique issued after the meeting. The sterling balances held in London by Commonwealth countries are and will continue to be freely at the disposal of their owners.

80. Mr. Grimond

asked the Chancellor of the Exchequer what steps are proposed to achieve a closer common financial and economic policy within the Commonwealth.

Mr. P. Thorneycroft

By holding meetings of Prime Ministers and Finance Ministers as successful as those which we now have.