§ 57. Mr. SNOWDENasked the Chancellor of the Exchequer if he has any reason to anticipate the early ratification of the Anglo-French debt agreement by France; and whether he has made, or proposes to make, any representations to the French Government in the matter?
§ Mr. CHURCHILLI have been in constant touch with the French Ministry of Finance on this subject. I have now received a communication from Monsieur Poincaré, in which he states that, in view of the delay in obtaining the formal rati- 1105 fication of the Debt agreement by the French Parliament, the French Government undertake, without prejudice to the question of ratification, to pay the £6,000,000 due in the next financial year, half on the 15th September, 1927, and half on the 15th March, 1928. While I trust that the Debt agreement will soon be ratified, I welcome this communication as indicating that the French Government intends to meet its obligations in respect of its War Debt, pending ratification.
Mr. BECKETTIs it possible to make friendly representations to the French Government suggesting that they should settle this debt with us before financing military dictatorships in Poland?
§ Mr. CHURCHILLI should not dream of making such representations.
§ 66. Mr. W. HIRSTasked the Chancellor of the Exchequer the original total of the Portugal War Debt to this country and the capitalised present value of the annuities to be paid by Portugal under the recent Anglo-Portugal debt funding agreement?
§ Mr. CHURCHILLThe original total of the War Debt of Portugal to this country was £23,527,186, which was reduced to £20,133,589 in consideration of the supplies rendered by Portugal to this country during the War free of charge and in settlement of all outstanding claims in connection with the War Debt accounts. The present value on a 5 per cent. basis of the annuities to be paid under the Funding Agreement is £7,167,000.