Oral Answers to Questions — Balance of Payments

Part of the debate – in the House of Commons at 12:00 am on 27th July 1965.

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Photo of Mr Harold Wilson Mr Harold Wilson , Huyton 12:00 am, 27th July 1965

I do not think that that arises out of this Question in any way at all. All I would say is that if, with a balance-of-payments deficit of £800 million last year, there was a feeling that that was a tolerable figure to be accepted—which we were told repeatedly by right hon. Gentlemen opposite, although we did not agree with it—then I think that, with a balance-of-payments deficit this year of much less than half that figure, there is no possible justification for any financial crisis when the economic position is improving rapidly and when we require more time to get it completely right.