§ 51. Mr. Cordleasked the Chancellor of the Exchequer what is his latest estimate of the savings in foreign currency caused by the £50 travel allowance.
§ Mr. CallaghanExpenditure by United Kingdom residents on travel outside the sterling area is tentatively estimated to be £25-£30 million less in 1967 than in 1966, in contrast to the annual increases ranging between £7 million and £29 million in the previous four years. The exchange control restrictions are not the only factor, but are an important one.
§ 55. Mr. Blakerasked the Chancellor of the Exchequer whether, in view of the recent improvement in the balance of payments situation, he will now increase the foreign travel allowance for the forthcoming tourist year above the figure of £50.
§ Mr. CallaghanNot at present.
§ Mr. Andersonasked the Chancellor of the Exchequer what assessment he has made of the effect on the United Kingdom balance of payments of the imposition of the £50 travel limit; and whether he will make a statement about the future of the limit.
§ Mr. CallaghanI refer my hon. Friend to the Answer given today to the hon. Member for Bournemouth, East and Christchurch (Mr. Cordle).