HC Deb 20 March 1923 vol 161 cc2337-8
44. Mr. BECKER

asked the Under-Secretary of State for the Colonies if he has any information to the effect that large sums of money have been raised by the Palestine Government on the security of a loan which has not yet been authorised, but which is contemplated in the event of the British Parliament ratifying the agreement to take over the Palestine Mandate?


The Government of Palestine have, with the authority of the Secretary of State for the Colonies, received advances amounting in all to £1,365,000 from the Crown Agents for the Colonies on the understanding that the advances will be repaid when a Palestine loan is floated. This procedure is in accordance with the usual Colonial Office practice when it is found necessary to finance expenditure in anticipation of the issue of a loan. With regard to the last part of the question, there is no question of any further ratification of the Palestine Mandate by Parliament, the Mandate having been accepted by His Majesty in April, 1920, and the terms of the Mandate having been approved by the Council of the League of Nations in July last.


Is there any immediate chance of this loan being issued?


I think so.