§ 55. Mr John Leeasked the Chancellor of the Exchequer if he will make a further statement on the balance of payments.
§ Mr. Roy JenkinsI would refer my hon. Friend to the Answer which I gave to a Question from my hon. Friend the Member for Bedfordshire, South (Mr. Gwilym Roberts) earlier this afternoon.
§ Mr. Sheldonasked the Chancellor of the Exchequer what estimate he has made of the balance of payments in the second half of 1968.
§ Mr. Roy JenkinsI do not wish at this stage to add to what I said on this subject in my Budget speech. Since then imports have continued at a rather high level, though this seems to have received some check recently. Exports have come 45W well up to my expectations. Our net invisible earnings have done well. The first quarter saw some exceptional investment transactions but these will not affect the prospects for the rest of the year.
§ Sir G. Nabarroasked the Chancellor of the Exchequer what improvement in Great Britain's financial position, notably in the balance of payments, has taken place during the seven months since devaluation of sterling.
§ Mr. Roy JenkinsThe main effects of devaluation and the Budget have not yet had time to work through, particularly on the volume of imports, but export performance has been encouraging.
§ Mr. Boyd-Carpenterasked the Chancellor of the Exchequer what further action he plans to take to strengthen the balance of payments.
§ Mr. Roy JenkinsI have no new proposals to announce at present.