§ Mr. Ian Lloydasked the Chancellor of the Exchequer (1) whether the foreign exchange control criteria normally applied to the investment of sums exceeding £500,000 overseas were applied to the application recently made to obtain the services of two overseas footballers for a sum of £750,000;
(2) whether the foreign exchange supplied to meet the purchase price paid for the services of two overseas footballers was supplied through the premium currency market or otherwise.
§ Mr. Robert SheldonPayments overseas for the transfer of footballers to clubs in this country are considered for exchange control purposes to be payments for services and can therefore be met with foreign currency obtained at the current rate in the official foreign exchange market. The question of investment overseas or the use of the investment currency market does not therefore arise.