HC Deb 01 March 1927 vol 203 cc210-1
57. Colonel WEDGWOOD

asked the Financial Secretary to the Treasury whether the guaranteed loan of £2,000,000 has yet been raised by the Societé Générale Hellenique?

Mr. McNEILL

Arrangements have been made for raising the whole loan by instalments as the money is required. I am informed that the amount raised to date is £375,000.

Colonel WEDGWOOD

With a view to protecting the interests of the British taxpayers, will the right hon. Gentleman make inquiries, either from the Societé Hellenique or from the Greek Government, as to whether any change is desirable in that guarantee, having regard to the opposition at Athens to the proposals of the Societé Hellenique?

Mr. McNEILL

I think that question really covers the same ground as the question which the right hon. and gallant Gentleman put the other day, and to which I replied that this loan has been sanctioned by the present Government and confirmed by the Assembly. In these circumstances I think it is impossible for us to question its validity.

Colonel WEDGWOOD

Would it not be possible for the right hon. Gentleman to make inquiries to ensure that the interests of the British taxpayers are being looked after.

Mr. McNEILL

Yes, but I am not sure that the making of such inquiries might not lead to misunderstanding.

Sir FREDRIC WISE

Can the right hon. Gentleman say if this loan will be offered to the public?

Mr. McNEILL

I cannot say without notice. I do not know.