HC Deb 30 April 1925 vol 183 cc316-7
55. Captain GARRO-JONES

asked the Chancellor of the Exchequer whether the Italian Government has now taken any step in furtherance of its expressed desire some months ago to initiate discussions on the subject of its debt of £550,000,000 to this country?

Mr. GUINNESS

It is not possible to add anything to the reply which the Chancellor of the Exchequer gave to the hon. and gallant Member on the 24th February.

Captain GARRO-JONES

Does the right hon. Gentleman recollect that the Chancellor of the Exchequer stated that the Italian Government had signified their intention six months ago to initiate discussions, and, if those discussions are initiated by the Italian Government, will some steps be taken by the British Government?

Mr. GUINNESS

I do not think it unreasonable to allow the Italian Government a fair margin of time to consider the matter.

Mr. JOHNSTON

Has the right hon. Gentleman not reason to fear that the gratuitous cancellation of £287,000 of debt due to the Treasury by the British-Italian Corporation may set a precedent in this case?