Oral Answers to Questions — Anglo-French Financial Agreement.

– in the House of Commons on 6th February 1940.

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Photo of Mr Ernest Bennett Mr Ernest Bennett , Cardiff Central

asked the Chancellor of the Exchequer whether the Anglo-French Financial Agreement involves a definite obligation on the part of the British and French Governments to maintain the existing official rate of exchange between the pound and the franc, or merely an endeavour by the two Governments to maintain the present rate as far as practicable?

Photo of Mr John Simon Mr John Simon , Spen Valley

The effect of the agreement on this point is that the two Governments consider that it is in the common interest to avoid alterations in the official rate of exchange between the franc and the pound sterling, and that they agree that no such change would be made without prior agreement between them.