§ 65. Mr. Onslow
asked the Chancellor of the Exchequer whether he will now amend the Exchange Control Regulations to allow firms to take forward cover for bona fide estimated liabilities in foreign exchange.
§ Mr. Harold Lever
No. Access to forward exchange cover in respect of firm commitments only is a fundamental rule; to abandon it would seriously weaken the control and make its fair administration virtually impossible. Such a change would put unwelcome further pressure on the forward market.