§ 48. Colonel WEDGWOODasked the Chancellor of the Exchequer whether he will state the total amount of capital commitments sanctioned by the Treasury for loans the interest on which falls to be paid by the British taxpayer, though the works of development for which the loans were sanctioned are outside Great Britain?
§ Major ELLIOTThe capital sum involved in schemes of this character is approximately £4,100,000. The obligation of the Treasury to make interest grants is limited in each case to a term of years and does not exceed in total £568,000. Practically all the schemes originated under the Palestine and East Africa Loans Act, 1926.
§ Colonel WEDGWOODIs the Treasury still committed to an expenditure of £2,500,000, in Palestine to buy the land, for the making of railways in East Africa, and the construction of the Zambesi Bridge?
§ Major ELLIOTIf the right hon. and gallant Gentleman desires those particulars I could furnish them, but I could not give them to him from memory.
§ Colonel WEDGWOODWhat check is the Treasury exercising upon these schemes before the money is actually wasted?
§ Major ELLIOTI could not accept my right hon. Friend's suggestion that the money is wasted.
§ Colonel WEDGWOODWhat about the Zambesi Bridge?
§ Major ELLIOTI could not accept the suggestion that the money is wasted.