§ Mr. Biggs-Davisonasked the Chancellor of the Exchequer what progress has been made in carrying out the decisions of the Commonwealth Trade and Economic Conference held at Montreal in September, 1958; and whether he will make a statement.
Mr. AmoryYes, the Report of the Commonwealth Trade and Economic Conference is being actively followed up.
As far as general objectives of economic policy are concerned, I give as one example the increase in international liquidity which will be achieved by the resolutions of the I.M.F. and I.B.R.D. for the enlargement of the resources of these, Institutions. The policy represented by these resolutions was supported by all the members of the Commonwealth at the Montreal Conference. Another example lies in the field of commodity policy. As agreed at the Conference, Her Majesty's Government have participated in recent months in international talks on sugar and non-ferrous metals. A further conference to negotiate a new international wheat agreement is now in progress.
34WAs examples of action affecting the Commonwealth countries only, I give the following:
The Prime Minister has already informed the House of the generosity of Her Majesty The Queen in making Marlborough House available for Commonwealth meetings in London.
Her Majesty's Government are in touch with other Commonwealth Governments as regards meetings of the Commonwealth Economic Consultative Council and a Commonwealth Education Conference.
Legislation is now before the House to provide for a system of Exchequer loans to Colonial Governments. Agreement has also been reached with the Governments of India and Pakistan for Commonwealth Assistance Loans of £28½ million and £10 million respectively.
The Commonwealth Economic Committee is implementing the proposals agreed at the Conference for expanding its services and functions.