HC Deb 20 December 1962 vol 669 cc212-3W
47. Mr. Boyden

asked the Chancellor of the Exchequer why he sanctioned the transfer of £200,000 to Belgium for the building by Slough Estates Ltd. of an industrial estate near Antwerp.

48. Mr. Warbey

asked the Chancellor of the Exchequer if he will withdraw the permission granted to Slough Trading Estates Limited to transfer £200,000 to Belgium for the purpose of establishing industrial factories in that country.

53. Mr. Hayman

asked the Chancellor of the Exchequer if he will make a statement about the approval given by Her Majesty's Government to transfer £200,000 to establish an industrial trading estate in Belgium.

Mr. Boyd-Carpenter

The only approval by Her Majesty's Government which was required in this case was in respect of exchange control. This was given in accordance with the normal rules. The transfer was authorised in the form of switch dollars which are the proceeds of sale of foreign securities already held by United Kingdom residents stemming mainly from pre-war holdings.

Mr. Jay

asked the Chancellor of the Exchequer on what grounds he consented to Slough Estates Ltd. transferring capital to Belgium for the purpose of developing industrial estates in that country.

Mr. Boyd-Carpenter

The only approval by Her Majesty's Government which was required in this case was in respect of exchange control. This was given in accordance with the normal rules. The transfer was authorised in the form of switch dollars which are the proceeds of sale of foreign securities already held by United Kingdom residents stemming mainly from pre-war holdings.