Exchequer and central government finance

Quarterly Bulletin 1966 Q1
Published on 01 March 1966

At the annual banquet of the Overseas Bankers Club at Guildhall on 7th February 1966.

... However, I feel that tonight I should not confine myself exclusively to extolling the virtues of the Overseas Bankers Club but should take the opportunity of saying a few words about the international financial position of the United Kingdom. Our friends overseas, in backing the judgment that sterling was not overvalued, have enabled us to weather the vicissitudes of the recent long-drawn-out sterling crisis. It was in the confidence that the United Kingdom would continue to take all necessary steps to maintain the exchange value of sterling that their assistance was made available. It remains one of our principal responsibilities to justify in the future, as we have in the past, the continuance of this confidence.

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