HC Deb 06 July 1971 vol 820 cc317-8W
35. Mr. Deakins

asked the Chancellor of the Exchequer if he will make a Ministerial broadcast outlining the benefits which the United Kingdom economy can expect in the event of United Kingdom membership of the European Economic Community.

Mr. Barber

I have no such plans at present.

36. Mr. Meacher

asked the Chancellor of the Exchequer in what way he estimates that the distribution of income and capital in Great Britain will be affected in the medium term by entry into the Common Market.

Mr. Maurice Macmillan

It is not expected that entry will affect the distribution of income and capital in the United Kingdom.

Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether he will make a statement on the Brussels discussions on the free movement of money across national boundaries; how they will affect Great Britain's reserves and sterling balances; why Her Majesty's Government asked for a two-and-a-half year wait before British citizens will be allowed to export their capital and five years before they have complete freedom to invest in continental shares; and whether he will include these details in the forthcoming White Paper.

Mr. Maurice Macmillan

I ask the hon. Member to await publication of the forthcoming White Paper.

Mr. Arthur Lewis

asked the Chancellor of the Exchequer whether he will give an assurance that on the present terms and conditions for Great Britain's possible entry into the European Economic Community, Great Britain will be able to maintain the present situation whereby persons who decide to live abroad in the countries of the Six will have to live for four years overseas before transferring more than £5,000 capital.

Mr. Maurice Macmillan

No. The United Kingdom has proposed to remove this restriction by the middle of the transitional period.