HC Deb 20 December 1928 vol 223 c3206
29. Colonel WEDGWOOD

asked the Chancellor of the Exchequer whether this country is to continue indefinitely paying the whole of the amounts required to make good the interest on the 1855 Guaranteed Ottoman Loan; when do the French Government, as co-guarantors, propose, to commence to pay; is the amount we now pay for the French Government charged up against France as a debt; and, if so, at what interest?


As the hon. and gallant Member was informed on the 12th December, no arrangement has yet been come to with the French Government as co-guarantor of the interest on the 1855 Ottoman Loan, and it is not, of course, possible for me to say when such an arrangement will be reached. For the time being, therefore, His Majesty's Government are bound to continue advancing the whole of the amounts required to make good the service of the loan, but they have informed the French Government, that they are liable for one-half the expenditure involved. Of course, it is hoped that Egypt will eventually recognise her responsibility in the matter.


Are we to understand that the right hon. Gentleman is still pressing the French Government to make good their guarantee, and that he will not allow this system which has now gone on for over 40 years to continue indefinitely to the detriment of the taxpayers of this country?

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