Foreign Loans

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 November 1973.

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Photo of Mr Patrick Jenkin Mr Patrick Jenkin , Wanstead and Woodford 12:00, 29 November 1973

Nobody is trying to smother anything. What we are doing, and doing successfully, by borrowing on normal commercial terms through the public sector, through the Euro market and other overseas markets, is obtaining enough to finance our deficit. That is a sensible thing to do. In the meantime rights with IMF remain intact and can be drawn upon if occasion arises.