§ Mr. Geoffrey Lloydasked the Chancellor of the Exchequer whether he will undertake an inquiry into the extent to which gold and silver jewellery indistinguishable from that made in the Indian sub-continent is being manufactured here, and then exported for sale abroad; and if he will take steps to make the law regarding the manufacture and export of such jewellery more easily enforceable.
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§ Mr. Harold LeverNo. My right hon. Friend is not aware that such manufactures and exports represent a problem. A careful watch is kept on the amount of gold acquired for manufacturing purposes and there has been little change in the amounts so acquired over the last two years. There are no restrictions on the use of silver. There is no objection to bona fide exports of the type of jewellery mentioned.
§ Mr. Geoffrey Lloydasked the Chancellor of the Exchequer what permits are needed for the purchase of fine gold and silver for manufacture into jewellery; what checks are exercised over the qualifications of persons who receive such permits; and how he ensures that the articles made from such fine gold or silver are presented for hall marking and are assessed for purchase tax.
§ Mr. Harold LeverPurchases of gold for domestic consumption are subject to the requirements of the Exchange Control Act, 1947. Purchasers are required to be known users of gold for established industrial purposes and/or established jewellery manufacture in the United Kingdom, and to complete a declaration that gold acquired by them will be used only for stated purposes. There are no restrictions on the purchase and use of silver for manufacture. It is required by law that, subject to certain exemptions, all articles of gold and silver must be presented to an Assay Office for hall-marking before they may be sold. Every goldsmith and silversmith making taxable articles is required to be registered for purchase tax purposes and to account for tax on the articles that he makes.