§ 42. Mr. MILLSasked the Chancellor of the Exchequer at what date France, Italy, Belgium, and Rumania began to pay interest on War Debt owing to this country; and whether such interest was paid on the original amounts outstanding or, if not, on what amounts?
§ Mr. P. SNOWDENAs the answer is long, I will with permission circulate it in the OFFICIAL REPORT.
§ Following is the answer:
§ The dates on which France, Italy and Rumania began to make payments in respect of their War Debts to this country were as follow:
- France—15th September, 1926.
- Italy—15th March, 1926.
- Rumania—15th November, 1926.
§ The amounts paid by France, Italy and Rumania were those laid down in the Funding Agreements, which provided for a series of instalments, on ascending Scales, which represented in all substantial reductions in the original amounts due. The reduction involved, 1267 in the case of France, for example, was given in my answer to a question by the hon. Member for Moseley on 19th February last.
§ The Treaty of Peace placed on Germany the charge of meeting the Belgian War Debts, and no direct payments have been made by Belgium in respect of her debt to this country which was compounded in the settlement of our share of the German annuities.