The Economic Cooperation Act, 1948, provides for bilateral agreements to be negotiated between the United States Government and the Governments of the participating countries. As already stated by my right hon. Friend the Foreign Secretary, this Agreement when negotiated will not require ratification. It will, however, be laid before the House in the normal way.
I do not think I said that. Under the Act to which I referred in my reply, it is provided that bilateral agreements have to be made between the participating countries and the United States.
asked the Chancellor of the Exchequer what arrangements have been made for the disposal of materials received through the Marshall Aid Plan; how will internal payments be made; who will draw the money; and if profits will be allowed to be made on the materials or on products made from the materials.
No special arrangements are contemplated either for the disposal of E.R.P. material or for dealing with any profits which may result. The other parts of the question are still under consideration, and until the views of the Economic Co-operation Administrator are known no final decision can be reached.
Can we be given an undertaking that what is available will be used as far as possible in order to improve the capital equipment of this country and the efficiency of industry, rather than constantly taking it out of the workmen, as has been done for far too long?
Obviously, that is not a matter for me, and questions of that kind should be addressed to my right hon. Friend the Leader of the House. As the Plan develops, I imagine it will be necessary to publicise what is to be done, and that discussions will take place thereon.