HC Deb 26 June 1924 vol 175 cc578-9
60. Sir FREDRIC WISE

asked the Chancellor of the Exchequer the amount received for the month of May from the German Reparation Recovery Act, and the amount received for May, 1923?

Mr. SNOWDEN

In May, 1924, £138,000; in May, 1923, £688,000.

Sir F. WISE

Can the right hon. Gentleman state the difference?

Mr. SNOWDEN

It is in exact proportion to the reduction in the percentage.

Sir F. WISE

Roughly half a million?

Mr. SNOWDEN

Just over half a million.

Viscount WOLMER

Can the right hon. Gentleman say what compensating advantage the country has derived from this loss of revenue?

Mr. SNOWDEN

If the Noble Lord will address that question to the innumerable commercial associations which made representations in regard to this matter, I have no doubt that they will be able to inform him that they have got considerable advantage.