§ 45. Mr. Hugh Jenkinsasked the Chancellor of the Exchequer why exchange control regulations between South Africa and this country are non-reciprocal in that capital can be exported freely from the United Kingdom to South Africa but is prohibited from being exported or re-exported from that country to the United Kingdom; and if he will place restrictions on the flow of United Kingdom capital to South Africa.
§ Mr. BarberThe main provisions of the Exchange Control Act, 1947, do not apply to transactions between the United Kingdom and other countries of the sterling area. South Africa is only one of many sterling area countries whose exchange controls apply to transactions with the United Kingdom. Since 1966, under the Voluntary Programme, United Kingdom companies and institutions have limited their investment in the developed sterling area countries including South Africa.
§ Mr. Hugh Jenkinsasked the Chancellor of the Exchequer whether he will propose the exclusion of South Africa from the World Bank and from the International Monetary Fund.
§ Mr. BarberNo.