Balance of Payments

HC Deb 25 July 1966 vol 732 cc195-6W

67. Mr. Bruce-Gardyne

asked the Chancellor of the Exchequer what estimate he now makes of when the United Kingdom balance of payments will move into surplus.

Mr. Callaghan

On any reasonable calculation the balance of payments should move into surplus some time in 1967, and we should be in surplus in the year as a whole.

Mr. Biffen

asked the Prime Minister what is the estimated effect on the balance of payments of his proposals relating to expenditure on holiday travel and remittances of emigrants to non-sterling area countries, respectively.

Mr. MacDermot

I have been asked to reply.

It would be unrealistic to attempt a more detailed estimate than that given by my right hon. Friend in his Statement on 20th July.