§ 48. Mr. LAMBERT
asked the Chancellor of the Exchequer whether the Treasury has approved the estimate of £2,588,894 for the Zambesi Bridge scheme; and, if so, what proportion of that sum is to be borne by the British Exchequer?
§ Mr. P. SNOWDEN
The Zambesi Bridge scheme has been approved by the Treasury at a total estimated cost of £3,062,354, including connected railway extensions. The expenditure will be financed by the Nyasaland Government out of the proceeds of a guaranteed loan to be raised under the Palestine and East African Loans Act, 1926, and that Government will receive free grants not exceeding £500,000 from the Colonial Development Fund, which fund is provided out of moneys voted by Parliament.
§ Mr. ORMSBY-GORE
Will the right hon. Gentleman make it quite clear how this transaction will stand when it is completed—that is to say, what is the ultimate liability of the Nyasaland taxpayer, and what is the ultimate liability of the British taxpayer?
§ Mr. SNOWDEN
If the cost of the construction is just over £3,000,000, and the British Exchequer is responsible for £500,000, the liability of the Nyasaland Government, I suppose, would be £2,500,000.
§ Mr. LAMBERT
Supposing that the Nyasaland taxpayer fails to meet the liability, will the British taxpayer then be called upon?
§ Lieut.-Commander KENWORTHY
Will my right hon. Friend remember this case when we come to him for money for the Humber bridge?