HC Deb 07 August 1924 vol 176 cc3095-6
20. Mr. HANNON

asked the Chancellor of the Exchequer whether he can state the amount of the Treasury contribution under the Trade Facilities Act, 1924, towards the interest payable on the New Zealand Government loan for the Arapuni hydro-electric power-scheme; the nature of the machinery set up under the Act and the steps which His Majesty's Government proposes to take to prevent such abuses of the intention of the Act as the placing of contracts or portions of contracts in foreign countries?

The FINANCIAL SECRETARY to the TREASURY (Mr. William Graham)

I would refer the hon. Member, as regards the first and third parts of the question, to the answer given by my right hon. Friend the Chancellor of the Exchequer to the hon. Member for Macclesfield on Tuesday last. In answer to the second part, applications for grants will be considered by a Standing Committee on which the Treasury, the Board of Trade and the Colonial Office or the India Office, as the case may he, will be represented. The Committee will make recommendations to the Treasury.


Will the hon. Gentleman exercise the closest supervision over all contracts of this character, and see that they are of such a nature to be of benefit to this country?


There cannot be any doubt about that because the Act is quite clear that the loan must be calculated to provide employment in this country.


Is the hon. Gentleman aware that under the provisions of this contract £200,000 is going to a foreign country?