When I say "cast-iron", I mean that they must be guarantees which ensure that the U.N. presence will not be withdrawn at the beck and call of anyone, as it unfortunately was at the time of the Crisis in June.

Moreover, they have worked hard to improve relations between this country and other Arab States ever since the June Crisis of last year, and I should like to pay tribute to their efforts in this direction What the Israelis need above all is peace, and acceptance by their neighbours.

If we had remained fixed after the June Crisis we would have been under pressure already because we are deliberately inflating the value of cur currency.

Thirdly, it was met by the influx of £1,600 million due to the June Crisis about which the Chancellor told us yesterday.