§ 61. Mr. D. G. SOMERVILLEasked the Prime Minister whether any steps have been taken or are in immediate contemplation for modifying any post-War Allied agreements in addition to the reparation levy on German goods?
§ Mr. CLYNESI cannot answer such vague questions. If the hon. Member will put specific inquiries and will state the particular inter-Allied agreement or agreements which he has in mind, I will endeavour to supply him with the information which he desires.
§ 62. Mr. SOMERVILLEalso asked the Prime Minister the amount received by this country from Germany under the 26 per cent. reparation claims levy since its introduction till the date of its reduction to 5 per cent.; whether the reduction has been agreed to without any equivalent compensation; and whether he proposes to publish the negotiations with Germany on the matter?
§ Mr. SNOWDENFrom March, 1921, up to the end of December last, the receipts were approximately £18,000,000. In answer to the second part, I am not clear what the hon. Member means by equivalent compensation. We have obtained from Germany the maximum we think she is capable of performing at the present time, without 676 starting new inflation. As regards the third part, the outcome of the negotiations has been given by my hon. Friend, and details are published to-day in the Board of Trade Journal. There are no Papers I could lay.
§ Mr. SOMERVILLEIs it a fact that these reparations are equivalent to about £90,000,000 a year, and that the Government have given up 21 per cent., and have not received any consideration in respect of that?
§ Mr. VIVIANCan the right hon. Gentleman tell us how much of the £18,000,000 came here in the form of goods and how much came in the form of money? That might interest the hon. Member who puts the question.
§ Mr. SPEAKERWe cannot have a Debate on the subject.
§ Mr. PRINGLECan the right hon. Gentleman indicate to what extent he regards this levy as a charge upon the Germans, or a protective duty in favour of the British manufacturers?
§ Mr. SNOWDENIt is very difficult to say what proportion of the duty is paid by the German exporter, the trader, or by the consumer.
§ Mr. SOMERVILLEWas any consideration received in respect of the 21 per cent. given up?
§ Mr. SNOWDENI do not know what the hon. Member means by "consideration," but I would point out to him that we have been receiving nothing since November last. Under this proposal we do expect, at any rate, to receive about £150,000 a month.
§ Sir LAMING WORTHINGTON-EVANSWill the right hon. Gentleman say whether the agreement which been come to with the Germans will be laid as a Paper, or is it to be published in the Gazette?
§ Mr. SNOWDENAll the information that it is possible to give is published in the Board of Trade Journal to-day, which contains full information in regard to procedure, for the information of traders. There are no Papers we can lay.
§ Sir L. WORTHINGTON-EVANSWhen a question was answered on Monday it was stated that an agreement 677 had been made with the Germans, and I want to know whether that agreement will be laid.
§ Mr. A. M. SAMUELArising out of the original question, was any attempt made by our Government, in return for the concession of giving over these duties, to get some concession for ourselves in order that our goods might go into Germany on better terms?
§ Mr. SNOWDENI do not know whether that matter was considered. In reply to the right hon. Member for Colchester (Sir L. Worthington-Evans), I may say that the terms are published in the Board of Trade Journal to-day, and I prefer that he should look at them.
88. Captain BENNasked the Chancellor of the Exchequer whether the whole amount under the German Reparation (Recovery) Act accrues to the British Treasury, or whether the sum is divided between the Allies according to the Spa percentages?
§ Mr. SNOWDENThe whole amount has accrued to the British Exchequer and no sum has been paid over to the Allies.
§ Mr. SNOWDENUp to January, 1923, we were entitled under an Allied Agreement to keep what we collected. The hon. and gallant Member knows that for the last two or three months the position with regard to reparation has been somewhat confused. We are keeping the proceeds of this duty and we propose to do so anyhow until there is some further general arrangement.
§ Sir L. WORTHINGTON-EVANSDoes the right hon. Gentleman say that this also applies to the 5 per cent.? Shall we retain the whole of that?
§ Mr. SNOWDENCertainly.
§ Mr. PRINGLEIs this not accounted for in some way to the Reparation Commission, and, if so, in what way?
§ Mr. SNOWDENI understand that during the last 15 months there have been no adjustments made at all among the Allies by the Reparation Commission.
Captain BENNIf we collect reparations apart from our Allies, what becomes of our Agreement at Spa to divide the reparation according to percentages?
§ Mr. SOMERVILLEMay I take it then, that the £18,000,000 referred to in the previous answer has been paid into the Treasury?
§ Mr. SNOWDENCertainly. In answer to the question of the hon. and gallant Member the whole thing is in abeyance at the present time.
§ Mr. LAMBERTHas the Reparation Commission therefore ceased to function?
§ Mr. SNOWDENPractically.
§ 89. Lieut.-Colonel HOWARD-BURYasked the Chancellor of the Exchequer whether he will ensure that the reduction in the rate of German reparation duty from 26 per cent. to 5 per cent. will cause a reduction in the price of goods to the consumer or will he allow the profit to go to the importer?
§ Mr. SNOWDENThe goods are subject to the competition of British and of other foreign goods and I do not see what other guarantee could be given to the consumer as to prices. The new arrangement simply restores the position to what it was before 17th November last, in that no part of the levy is borne by the importer.
§ Lieut.-Colonel HOWARD-BURYCan the right hon. Gentleman say whether this concession will mean a loss of £5,500,000 a year to the Exchequer, and will it not hamper the recovery of those industries which are already much affected by German competition?
§ Mr. SNOWDENThe difference will be between about £800,000 a month and £150,000 a month.
§ 91. Mr. PENNYasked the Chancellor of the Exchequer whether the Dominions were consulted before the new agreement was made between ourselves and the German Government reducing the 26 per cent. duty to 5 per cent.?
§ Mr. SNOWDENThe answer is in the negative. The Act refers to goods imported into the United Kingdom. None of the Dominions has similar legislation in force.
§ Sir L. WORTHINGTON-EVANSIs it not the case that the Dominions are 679 entitled to a percentage of what this country recovers as reparations? Has the right hon. Gentleman given that up without consulting the Dominions?
§ Mr. SNOWDENI wonder whether our predecessors, when they reduced the percentage from 50 to 26, took a precaution with regard to that.
§ Mr. PENNYWill the Minister tell us whether the British representative on the Reparation Commission was consulted before the alteration was made?
§ Mr. SNOWDENThat does not arise out of this question.
§ Mr. BECKERIs this a Government attempt to bring in Free Trade?
§ 92. Mr. PENNYasked the Chancellor of the Exchequer if he will issue immediately as a White Paper the new agreement in regard to the German Reparation (Recovery) Act?
§ Mr. SNOWDENThe terms of the agreement have already been explained and details are published in the Board of Trade Journal to-day.
§ 93. Mr. PENNYasked the Chancellor of the Exhequer if he will state the estimated amount to be received by the new agreement of the German Reparation (Recovery) Act?
§ Mr. SNOWDENThe monthly receipts may be estimated at £150,000.