HC Deb 29 June 1922 vol 155 c2305
25. Colonel WEDGWOOD

asked the Prime Minister, with reference to the money advances made by us to other countries and to our request for interest on these advances as from October next, whether he will say what rate of interest is to be charged; and whether that rate of interest will be the same as the interest charged by America upon the debt we owe to that country?

The PRIME MINISTER

No request has yet been made to the Allied Governments in question for payments of interest in cash in October next, but they have been informed that His Majesty's Government must be regarded as free to make such a request. The rate of interest to be charged will be a matter for discussion, as is also the rate to be paid on our debt to the United States Government. Hitherto interest has been calculated on our advances to the Allied Governments in question at the rate of 5 per cent, per annum, with some small exceptions. Interest on our debt to the United States Government has also hitherto been calculated at 5 per cent. per annum.