B.A.O.R. (Foreign Exchange Costs)

HC Deb 24 November 1969 vol 792 cc21-2W

Mr. Beaney

asked the Secretary of State for Foreign and Commonwealth Affairs what will be the additional foreign exchange costs of the British Army of the Rhine caused by the revaluation of the Deutschemark; and whether the current Anglo-German Offset Agreement is to be adjusted to offset these additional costs.

Mr. George Thomson

As my right hon. Friend the Secretary of State for Defence told the House on 4th November, the foreign exchange costs of B.A.O.R. are expected to rise by about 8 per cent. in a full year. Since the relevant articles of the current Anglo-German Offset Agreement are denominated in Deutschemarks, the amount of German purchases made in this country will rise by 9.3 per cent. in sterling terms.—[Vol. 790, c. 88.]