§ Mr. Dykesasked the Secretary of State for Trade when he expects to establish a date for the publication of the departmental inquiry into London and County 197W Securities; and wether he will make a statement on the progress of the inquiry.
§ Mr. Clinton DavisAs I stated in reply to a Question from my hon. Friend the Member for Bolsover (Mr. Skinner) on 18th November, I hope to receive the inspectors' report early next year. Consideration will then be given to the question of publication of the report. It is not proposed to make a statement on the progress of the inquiry.—[Vol. 881, c. 875–6.]
§ Mr. John Roperasked the Secretary of State for Trade, what is his estimate of the benefits to the balance of trade with the eight other members of the European Community and the United Kingdom's overall balance of payments if the present common market arrangements were replaced by a free trade area with comparable transitional provisions.
§ Mr. Shore,pursuant to his reply [OFFICIAL REPORT, 25th November 1974; Vol. 882, c. 26], gave the following information:
It is not possible to give a quantified reply at the moment, since much would depend on the nature of the free trade agreement. There are major differences between a free trade area and a Community in that under the former there would be no obligation to subscribe to a Community budget, there would be no acceptance of Community preference in agricultural produce, nor would there be any obligation in respect of a free movement of capital.