HC Deb 27 January 1977 vol 924 cc755-6W
28. Mr. Anthony Grant

asked the Chancellor of the Exchequer what estimate he has made of the effect on British exports of the agreement with the Central Bank governors to provide a facility for official sterling balances.

Mr. Healey

I take it that the hon. Member has in mind the effect on exports through the influence on the sterling exchange rate. The main benefit here will come from the new element of stability for traders and others that these arrangements will afford. This will be an undoubted benefit, but it is not possible to quantify the effect.

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