asked the Chancellor of the Exchequer whether, in view of the continued fall during the last week of the pound sterling in markets where the pound is freely convertible, he can state what additional action is contemplated by His Majesty's Government to ensure that transferable and convertible sterling released by His Majesty's Government is only dealt with at official parity rates.
I would refer the hon. and gallant Member to the answer which I gave to his question on this subject on 29th November. There has been no significant change in the situation during the past week.
Is not the Chancellor aware that in Zurich, Milan and Paris sterling has now reached a new low level? Surely, unless urgent action is taken by the Government, the Chancellor will find himself in exactly the same position as he did before devaluation, having to repudiate 14 statements which he had made that he would not devalue.