HC Deb 06 July 1959 vol 608 c94W
81. Mr. Atkins

asked the Secretary of State for Foreign Affairs what representations he has made to the Government of the Philippines concerning the reduction of the foreign exchange quotas of British firms in the Philippines; and what effect these representations have had.

Mr. R. Allan

Representations were made to the Philippine authorities on a number of occasions in January and February. As a result the firms concerned were invited to state their case at hearings which began on 2nd March. In April the Central Bank suspended the further cuts which were contemplated. The cuts now stand at 50 per cent. Had it not been for this revision allocations would by now have been reduced by 75 per cent. and would cease altogether at the end of the third quarter of the year.