Import Deposits Scheme

HC Deb 01 April 1969 vol 781 cc66-7W

Mr. Pardoe

asked the Chancellor of the Exchequer what is the value of current deposits under the Import Deposits Scheme; and if he will take steps to ensure that this sum is used to provide cheap credit for British exports.

Mr. Taverne

Import Deposits totalled £255 million on 28th February, 1969. The answer to the second part is "No".

Mr. Brooks

asked the Chancellor or the Exchequer when he expects to be in a position to assess the effect of the import deposits scheme upon Great Britain's balance of payments.

Mr. Harold Lever

I cannot put a figure on the precise effect of the import deposit scheme, but I expect it to have a marginal, but significant influence in accelerating the underlying improvement in our balance of payments.