§ 41. Captain P. MACDONALDasked the Chancellor of the Exchequer if he can now make any statement as to the date by which it will be found possible to repay the remaining balances of the credits obtained last autumn by the Treasury from France and the United States of America?
§ The FINANCIAL SECRETARY to the TREASURY (Major Elliot)My hon. and gallant Friend has doubtless seen the announcement in the Press on the 1st April of the repayments made at the end of last month. Since then the remaining portion of the United States credit—$20,000,000—has been repaid, the right to re-borrow being retained by the Treasury until the anniversary of the original credit on 28th August. There now remains outstanding only the loan of 2,500,000,000 francs from the French public, which is not repayable before the date of maturity in September.
§ Captain MACDONALDCan the right hon. Gentleman give an estimate of the saving which has resulted from these repayments?
§ Major ELLIOTI could not do so without notice.