§ 73. Captain W. Elliotasked the Chancellor of the Exchequer whether he has sought and obtained an estimate of the effect of the standstill on the current balance of payments in the second half of 1966.
§ 74. Dame Irene Wardasked the Chancellor of the Exchequer what he estimates to have been the effect of the standstill on the current balance of payments in the second half of 1966.
§ Mr. DiamondThe success of the Government's incomes policy has been a major factor in reducing the pressure of demand in the economy, releasing resources for exports and restraining the demand for imports. The effectiveness of the Government's incomes policy will be reflected in the outturn for the balance of payments in the fourth quarter of 1966, to be published very shortly.
§ 75. Mr. Kershawasked the Chancellor of the Exchequer what he forecasts will be the effect on the United Kingdom current account in 1967 of purchases of United States military aircraft.
§ 76. Mr. Peelasked the Chancellor of the Exchequer what receipts he forecasts on the capital account of the balance of payments in 1967 as a result of purchases of United States military aircraft.
§ Mr. CallaghanI cannot give precise figures since payments will depend on the progress of work done in the United States. Net payments which will be very largely offset by credits made available by the United States may approach £175 million.
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