Oral Answers to Questions — Pound Sterling (Devaluation)

– in the House of Commons at 12:00 am on 24th October 1949.

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Photo of Lieut-Colonel Sir Thomas Moore Lieut-Colonel Sir Thomas Moore , Ayr District of Burghs 12:00 am, 24th October 1949

asked the Secretary of State for Foreign Affairs what inquiries, criticisms or protests he has received from the Governments of the European countries within the sterling area in regard to the lack of prior consultation with them before the devaluation of the pound sterling was announced by the Chancellor of the Exchequer.

Photo of Lieut-Colonel Sir Thomas Moore Lieut-Colonel Sir Thomas Moore , Ayr District of Burghs

Does the Under-Secretary think that this unilateral method of devaluation is calculated to promote confidence and goodwill between ourselves and the other countries concerned?

Photo of Professor Douglas Savory Professor Douglas Savory , Queen's University of Belfast

Can the hon. Gentleman say whether he considers that the failure to give notice to the French Government was consistent with Article 4 of the Treaty of Dunkirk; and is he not aware that the word "Dunkirk," so sacred to us, is being used as a form of opprobrium?

Photo of Mr Christopher Mayhew Mr Christopher Mayhew , Norfolk Southern

There is no breach of any formal obligation in this procedure. The French Government, while regretting that it was not possible for us to give earlier notice, have themselves stated that they consider that we have fulfilled our obligations.