§ Mr. Rostasked the Chancellor of the Exchequer when he now expects the IMF loan to be granted; and if he intends to seek the approval of Parliament before accepting it and its conditions.
§ Mr. HealeyI expect that the Executive Board will consider the United Kingdom application around the end of the year. On the second part of the hon. Member's Question, as I told him on 30th November, I have nothing to add360W to what the Lord President told the House on 25th November.
§ Mr. Rostasked the Chancellor of the Exchequer (1) what was the Treasury's original timetable for the securing of the IMF loan; by how long it has been delayed; and for what reasons;
(2) what was the originally anticipated length of the stay by the IMF officials; how many times and by how many days, their visit has been extended; and for what reasons;
(3) why the IMF officials have stayed in the United Kingdom for over one month.
§ Mr. HealeyThere has been no firm timetable for the visit of the IMF team or for securing the standby arrangement. The IMF team have been in London for the time necessary to make a thorough examination of the prospects for the United Kingdom economy. This has inevitably been a lengthy process given the uncertainties about the world, as well as the United Kingdom, economy, and it is not something which anyone would want to rush.