Chancellor of the Exchequer (Speech)

Part of Oral Answers to Questions — Housing – in the House of Commons at 12:00 am on 3rd March 1964.

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Photo of Mr Woodrow Wyatt Mr Woodrow Wyatt , Bosworth 12:00 am, 3rd March 1964

Does the Prime Minister realise that that madly optismistic speech was made before the Bank Rate went up and before the publication of the bad trade figures for January? Is he not aware that we are now fast running into a balance of payments crisis which is particularly illustrated by the fact that a large part of our imports in January was due not to stocking up, but to finished manufactured goods? Will he say whether the Government have started conversations with the International Monetary Fund and the European central banks with a view to protecting our reserves before it is too late, in view of the balance of payments crisis which we are running into?.