HC Deb 18 March 1926 vol 193 cc592-3
59. Sir F. HALL

asked the Chancellor of the Exchequer if he will state what are the amounts of the war debts owed to this country by France, Italy, and Belgium, respectively, and how far they have been liquidated; if he will state what are the amounts owed by the same countries, and by Great Britain to the United States of America, and how much has been paid off in each case; and whether, in view of the results to this country of the one-sided arrangements that have been made with regard to the repayment of war debts, the Government will take steps with a view to the whole position being examined afresh by the Allies, together with America, with the object of coming to an all-round settlement?

— War Debt to this Country. Payments made. War Debt to United States. Payments made.
£ £ £ £
Great Britain … — — 968,000,000 Principal 14,400,000
Interest 106,300,000
Total 120,700,000
France … 647,105,700 Nil 800,700,000 Nil (see Note 1).
Italy … 840,000 (see Note 2) 2,000,000 419,000,000 1,070,000 (see Note 2).
Belgium … See Note 3 — 35,345,000 Nil (see Note 3).
NOTE 1.—The Debts of France to Great Britain and the United States shown above excludes Post-War Debt in respect of Surplus War Material.
NOTE 2.—Particulars of the settlement of the Italian Debt to Great Britain are given in Command Paper 2580. The Debt of Italy to the United States has been funded subject to ratification by the United States. The sum of £1,030,000 has been placed on deposit pending ratification. The sum of £40,000 was paid on signing the Agreement.
NOTE 3.—The War Debt of Belgium to Great Britain forms part of the obligations of Germany under Article 232 of the Treaty of Versailles and as between Great Britain and Belgium has been cancelled. (The Post-War Debts of Belgium to Great Britain have been repaid or funded.)
The War and Post-War Debts of Belgium to the United States have also been funded subject to ratification by the United States. The figure given above represents the War (Pre-Armistice) Debt only. So far as is known no cash payment has yet been made in respect of this Debt.