§ 49. Mr. Biggs-Davisonasked the Chancellor of the Exchequer which sterling area countries have taken steps to convert their sterling reserves into gold, dollars or other currencies; and whether he will make a statement.
§ Mr. CallaghanSo far this year there has been a net rise in the balances of the Sterling Area as a whole. As regards the balances of individual countries, this is a banking matter.
§ 50. Mr. Cantasked the Chancellor of the Exchequer whether, as an aspect of the long-term reappraisal of the British economy, he will institute a full-scale analysis of the working of the sterling area.
§ Mr. CallaghanAll these matters are the subject of continuous study.