§ 66. Mr. Bruce-Gardyneasked the Chancellor of the Exchequer if he will introduce an interim budget or other measures to restore confidence in the currency before the end of July.
§ Mr. Roy JenkinsNo. As I made clear in my speech on Third Reading of the Finance Bill, I am confident that, so long as we continue to adhere to the strategy which we have adopted, we shall achieve the balance of payments surplus we require.—[Vol. 767, c. 1787–93.]
Lender Date Amount† £ millions Currencies (all non-Sterling) Rate of Interest Repayments Dates International Monetary Fund December, 1964 … 357 Various … * Repaid Swiss National Bank (Parallel Loan) December, 1964 … 28 Swiss francs … * Repaid International Monetary Fund May, 1965 … 500 Various … * 1968–70 Swiss National Bank (Parallel Loan) May, 1965 … 14 Swiss francs … * 1968–70 International Monetary Fund March, 1966 … 44 Various … * 1969–71 United States Export—Import Bank, Line of Credit (Military Aircraft Loans) April, 1966 … 19 U.S. dollars … 4¾ 1966–73 June 1966 … 12 U.S. dollars … 4¾ 1966–73 August 1966 … 66 U.S. dollars … 4¾ 1967–74 July, 1967 … 100‡ U.S. dollars … 4¾ 1968–75 Swiss bank consortium October, 1967 … 37 Swiss francs … 5½ 1968 Bank for International Settlements November, 1967 … 104 Various … * 1968–69 Deutsche Bundesbank April, 1968 … 21 Deutschemarks … 5¾ 1972 International Monetary Fund June, 1968 … 583 Various … * 1971 The table does not cover confidential central bank transactions, or bonds denominated in Hong Kong dollars under the facility established with the Hong Kong Government in June this year. * It is not customary to disclose details of arrangements under which short-term assistance is given by Central Banks. The eventual total charges to be repaid to the I.M.F. and Switzerland will depend on when repayment is made. I.M.F. charges are explained in the July issue of "International Financial Statistics" (page 59). which is available in the Library. † At rates applicable at date of loan. ‡Total line of credit made available in July. 1967 (Cmnd. 3382) was £179 million of which £100 million had been drawn at 30th June, 1968. Because of the cancellation of the F l l1K the whole amount of credit available will not be drawn.