Sterling Convertible Agreements

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 24 April 1947.

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Photo of Mr Hugh Dalton Mr Hugh Dalton , Bishop Auckland 12:00, 24 April 1947

I am sorry to have to repeat myself. The point really is that this depends on multilateral trading arrangements, including the movement of invisible items, as I explained in reply to a similar Question just now. I do not want to give an estimate that cannot be sustained by argument. This is a case where no estimate can be given. Of course, we are watching the movement of events very carefully.