HC Deb 19 December 1967 vol 756 cc356-7W
Sir C. Osborne

asked the Chancellor of the Exchequer if he is aware that the dollar premium has risen again to 29 per cent.; and if he will take the necessary steps to transfer £800 million a year resources from the home market to exports, in order to prevent the present sterling rate of 2.40 becoming untenable.

Mr. Roy Jenkins:

Measures have already been taken which should bring about a substantial shift in resources in the months ahead. It is too early to estimate the eventual amount of resources which will have to be diverted from the home market, but we shall take whatever steps are necessary to ensure that this is made possible.