Sm.
Canadian wheat and flour
309
Canadian cheese
Canadian bacon
Canadian eggs
Canadian pulp and paper
Canadian timber
HAHAN
15
13
17
10
NONWUILO
23
Canadian tobacco
8
Total
395
There is also expenditure of $101 millions on non-Canadian items
which are either ineligible or which cannot be documented
under existing procedures, making a grand total of $496 millions.
7.
It is necessary to draw a distinction in these items
between those on which a decision lies with E.C.A. and the
agricultural commodities which are, or may be, declared surplus
by the Secretary for Agriculture. The major item in the latter
category is wheat. Here, if the Secretary for Agriculture
declares wheat surplus, E.C.A. have no option under existing
legislation: they must refuse it for E.C.A. financing.
the other items, cheese, bacon, eggs and tobacco (totalling
$53 millions) are in the same category.
8.
Of
As stated in paragraph 4 above it had been hoped
that it would be possible to re-arrange the United Kingdom
purchasing programme so that E.R.P. dollars could be expended
on other essential commodities while wheat could be bought from
the free dollars so released. This, however, is not possible.
On the basis of present estimates there should be at
best 69 million free dollars available for purchases by the
United Kingdom made up as follows:
9.
United Kingdom exports
Sm
+ 620
Net invisibles
197
Rest of Sterling Area
188
Gold and dollar settlements
243
Capital transactions
+
42
Imports that can be paid for from
earned dollars
34
InvisiPage 342f66are eligible for
E.C.A finance (say)
Total
-3m
Page 342
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