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

Every Government within the sterling area exercises exchange control powers similar to our own with the object of preventing a drain on our gold or dollar resources. While I am satisfied that the existing system of control is very effective in achieving this object, the system is kept constantly under review in order that concerted action can be taken to strengthen it whenever the need should arise.