HC Deb 22 May 1930 vol 239 cc567-8
67. Sir A. KNOX

asked the Chancellor of the Exchequer what sum is now due from the Government of Russia to that of Great Britain in capital and accumulated interest; whether he has received any offer from the Soviet Government or has made any suggestion to it regarding the funding of this debt; and what is the annual sum now paid by the British taxpayer in interest on this loan?

The CHANCELLOR of the EXCHEQUER (Mr. Philip Snowden)

The sum due by the Government of Russia to this country as on 31st March last amounts to £900,000,000; up to the present no suggestion has been received from the Soviet Government in regard to the funding of this debt, but it will be among the questions to be discussed in the negotiations with the Soviet Government which are to take place shortly; the money lent to Russia during the War was borrowed by His Majesty's Government at over 5 per cent. interest, and the annual sum now paid by the British taxpayer for interest thereon accordingly amounts to over £45,000,000.


Will the right hon. Gentleman use his great persuasiveness to try, if possible, to get some relief for the British taxpayer in the negotiations which are going on?


May I ask whether the amount stated includes the money owed to this country prior to the revolution of March, 1917?


It includes all the Russian Government debts.

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