§ Mr. William Hamiltonasked the Chancellor of the Exchequer if he will make a statement on the progress made towards a solution of the balance of payments problem; and whether he is satisfied as a result of this progress that a balance will be achieved before mid-1967.
§ Mr. CallaghanThe balance of trade already looks better, and there has been some recovery of reserves and repayment of central bank facilities. The full benefit of the measures has not yet been felt, but we should achieve a surplus in the balance of payments over 1967 as a whole.