§ Mr. Spearingasked the Chancellor of the Exchequer what plans he has for the role of £ sterling as an actual, or effective, world currency; and what control he will be retaining on the export of capital from the United Kingdom.
§ Mr. Robert Sheldon:The Government do not wish to see sterling in the rôle of a major world currency. As I indicated to the House on 11th January, our objective is to bring about an orderly reduction in sterling's rôle as a currency in which other countries hold official reserves, and steps have been taken to achieve this.
The exchange control rules governing the export of capital are kept under review and changes are made whenever they are considered necessary in the light of prevailing circumstances.