§ 65. Mr. Onslowasked the Chancellor of the Exchequer whether he will now amend the Exchange Control Regulations to allow firms to take forward cover for bona fide estimated liabilities in foreign exchange.
§ Mr. Harold LeverNo. Access to forward exchange cover in respect of firm commitments only is a fundamental rule; to abandon it would seriously weaken the control and make its fair administration virtually impossible. Such a change would put unwelcome further pressure on the forward market.