§ Sir C. Osborneasked the Chancellor of the Exchequer what are the main causes of the recent weakness in sterling; if he will now impose large cuts in Government expenditure so as to help sterling; what special steps he is taking to meet an autumn drain on sterling; and if he will make a statement.
§ Mr. CallaghanThe strength of sterling will be reinforced as we get our balance of payments right. Meanwhile, there are adequate resources available to meet any seasonal requirements in the exchange market.