§ Sir B. Rhys Williamsasked the Chancellor of the Exchequer if he will now proceed to dismantle the controls on capital movements in and out of the United Kingdom; and what steps he will take to render investment in British equities attractive to overseas holders of sterling.
§ Mr. Robert SheldonThe movement of capital into the United Kingdom by nonresidents and its repatriation is free of restrictive control. In view of the current balance of payments position, now is not an appropriate time to dismantle the existing controls on capital movements out of the United Kingdom by residents. Overseas holders of sterling may already invest in British equities quoted on the Stock Exchange.