Gold Coins

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 18th July 1967.

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Photo of Mr Terence Higgins Mr Terence Higgins , Worthing 12:00 am, 18th July 1967

asked the Chancellor of the Exchequer whether he will bring up to date the figure of £100,000, which at 22nd November, 1966, represented sales of gold coins under Statutory Instrument 1966, No. 438, to the five members of the London gold market.

Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North

I would refer to the Answer given to the hon. Member for Essex, South-East (Mr. Braine) on 23rd June, 1967.—[Vol. 748, c. 358–9.]

Photo of Mr Terence Higgins Mr Terence Higgins , Worthing

As there has been no change since that date, can the hon. and learned Gentleman tell us what has been the effect on the balance of payments of the collections made so far?

Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North

The question of the effect on the balance of payments is a separate question of which I should require notice, and I do not think that the hon. Gentleman would want me to revise figures given as recently as 23rd June.

Photo of Mr Terence Higgins Mr Terence Higgins , Worthing

asked the Chancellor of the Exchequer whether the Government intend to continue the practice of not asking the Director of Public Prosecutions, whose consent is necessary, to proceed against those who make voluntary disclosures of gold coins under Statutory Instrument 1966, No. 438.

Photo of Mr Terence Higgins Mr Terence Higgins , Worthing

Is it not very unsatisfactory? If an Order is being passed through the House, should it not be consistently enforced or else withdrawn?

Photo of Mr Niall MacDermot Mr Niall MacDermot , Derby North

We will keep this matter under review. We want still to encourage people who may be holding coins without permission to apply for permission.