51. Mr. G. DOYLEasked the Prime Minister what is the total War debt owing to this country by France, Italy, Russia, Roumania, the Balkan States, and the Dominions; if the interest on such debts is regularly paid; and what is the total sum already paid in interest and capital?
Mr. YOUNGIn reply to the first part of the question, the total amount of War loans to Dominions and Allies and relief 252 loans outstanding at 31st March last was £1,963,353,492 15s. 9d. The hon. Member will find a detailed statement showing how this amount is made up on page 93 of the Finance Accounts, 1920–21 (House of Commons Paper 146). The interest on these loans is being regularly paid in the case of loans to the Dominions, Relief Bonds (with certain minor exceptions), the Belgian Reconstruction Loan of £9,000,000, the loan to the Belgian Congo, and certain special loans to Greece and Portugal and the loan of £2,000,000 to Czecho-Slovakia. In the case of other War loans to the Allies, as a general rule no interest is being paid, the amount due in respect of interest being added to the capital of the debt outstanding. In certain cases, however, sums due by this country are set off against the amount due in respect of interest or capital on loans made by this country. In the case of the loans to Russia (since the Bolshevik revolution, owing to the absence of any representative of the Russian Government authorised to sign additional Treasury Bills), Serbia, Montenegro and Armenia, the amount due in respect of interest has not, up to the present, been added to the amount of the capital shown as outstanding. In reply to the third part of the question, the total amount paid up to the 31st March last in interest and repayment of capital is £65,318,905. For details of such repayments I would refer the hon. Member to the Annual Finance Accounts.