§ 37. Mr. GRAHAM WHITE (for Mr. MALLALIEU)
asked the Financial Secretary to the Treasury to what extent repayments of advances made to beet-sugar companies under the Trade Facilities Acts are in arrear; what payments have been made by the Treasury in respect of principal and in respect of interest; what steps have been taken to ensure repayment; and whether any of these payments are regarded as irrecoverable?
§ Mr. HORE-BELISHA
With reference to the first two parts of the question, I would refer the hon. Member to the reply which I gave on the 27th April last to the hon. Member for South Bradford (Mr. Holdsworth). In reply to the third part of the question, any sums advanced by the Treasury to implement a guarantee constitute a secured debt from the company to the Treasury, the service of which ranks immediately after the service of the original loan. The company is of course unable to pay any dividend while the service of these loans is in arrear. In reply to the fourth part of the question, a sum of £171,180 has been written off as irrecoverable in connection with the Orchard Sugar Company, Limited, which went into liquidation on the 30th March, 1928.