Special Bank Deposits

– in the House of Commons at 12:00 am on 29th April 1965.

Alert me about debates like this

Photo of Mr Cyril Osborne Mr Cyril Osborne , Louth Borough 12:00 am, 29th April 1965

May I seek your guidance, Mr. Speaker? Would it be in order for me to move the Adjournment of the House under Standing Order No. 9 so that we might debate a matter of urgent and immediate national importance, namely, the announcement about the special deposits which has been made only today and which could not have been made without the consent and knowledge of the Chancellor of the Exchequer following the threat yesterday from Brussels that the loan would not be renewed and upon which the very stability of sterling depends?

Photo of Sir Harry Hylton-Foster Sir Harry Hylton-Foster , Cities of London and Westminster

It is in order for the hon. Gentleman to try to move the Adjournment on any ground that he likes. If he proposes a Motion, it is my duty to consider it.

Photo of Mr Archibald Manuel Mr Archibald Manuel , Central Ayrshire

Is there in the Standing Orders governing our procedure any period of time laid down during which you, Mr. Speaker, must wait for the delivery to you of a Motion under Standing Order No. 9?

Photo of Sir Harry Hylton-Foster Sir Harry Hylton-Foster , Cities of London and Westminster

I do not know about the time, but I have to receive it in writing in my hand. Time is probably governed by locomotion. I will rule on the point raised by the hon. Member for Louth (Sir C. Osborne), but there is other business with which we must deal before I can receive his Motion.

Later

Photo of Sir Harry Hylton-Foster Sir Harry Hylton-Foster , Cities of London and Westminster

This is the opportunity for which the hon. Member for Louth (Sir C. Osborne) is waiting.

Photo of Mr Cyril Osborne Mr Cyril Osborne , Louth Borough

I beg to ask leave to move the Adjournment of the House, Mr. Speaker, under Standing Order No. 9, for the purpose of discussing a matter of urgent public importance, namely, having regard to the immediate danger to sterling implied by today's statement on special bank deposits, which deflates the economy by a further £90 million, following the refusal of the E.E.C. banks yesterday to renew the 3,000 million dollar loan which expires in a few weeks' time. To support this proposal, Mr. Speaker, may I say that only a few seconds ago I saw the Chancellor of the Exchequer behind your Chair.

Photo of Sir Harry Hylton-Foster Sir Harry Hylton-Foster , Cities of London and Westminster

The hon. Member asks leave to move the Adjournment of the House, under Standing Order No. 9, for the purpose of discussing a matter of urgent public importance, namely, having regard to the immediate danger to sterling implied by today's statement on special bank deposits, which deflates the economy by a further £90 million, following the refusal of the E.E.C. banks yesterday to renew the 3,000 million dollar loan which expires in a few weeks' time. I regret that I cannot accede to the hon. Member's application. The Motion does not fall within the Standing Order.