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 Stafford Cripps Sir Stafford Cripps , Bristol East 12:00 am, 18th October 1949

I cannot give any reliable estimates of losses which have been incurred, either as a result of activities of persons outside our jurisdiction, or through evasion of Exchange Control regulations on the part of our own residents; nor would it be possible to estimate the proportion of the losses caused by the first category as compared with the second. I am satisfied, however, that the great bulk of the losses that occurred were due to operations by traders outside our control, and that those due to deliberate evasion on the part of our own nationals were relatively small.