HC Deb 21 July 1966 vol 732 cc150-1W
Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether, before discussing with international bankers borrowings to strengthen the £ sterling, he will approach the Soviet Government asking that they should sell gold to Great Britain on a repayment basis which would include, in addition to normal interest rates, the opportunity for the Soviet Government to purchase from British manufacturers' factories, plants and equipment of their own choosing, at favourable world market prices, to the extent of the gold allocation received, plus an agreed clearance interest sum on completion.

Mr. MacDermot

My right hon. Friend is very anxious to see an increase in British exports to the Soviet Union, but doubts whether a link with a gold loan would be a practicable way of achieving this.