§ Mr. Crouchasked the Chancellor of the Exchequer whether it is his policy to continue to provide forward cover for nationalised industry and local authority borrowings of foreign currency averaging 10 years or over.
§ Mr. HigginsNo. In view of the much improved external position my right hon. Friend proposes to discontinue these arrangements for the time being. The public sector bodies concerned may continue to borrow abroad, subject to the usual Treasury and exchange control consents.