Exchange Control

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 18th October 1949.

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Photo of Sir Isaac Pitman Sir Isaac Pitman , Bath 12:00 am, 18th October 1949

asked the Chancellor of the Exchequer if he will estimate the losses to the nation, in the period leading up to devaluation, due to absence of exchange control or ineffective control; what percentage of such total loss is attributable to transactions involving sterling by persons not susceptible to the jurisdiction of British statutes; how much attributable to the transactions susceptible to such laws; and if he will estimate the amount, if any, lost by reason of transactions by British citizens ineffectively controlled.