§ Mr. MALLALIEUasked the Chancellor of the Exchequer how much out of the sum of £5,346,689 issued from the Consolidated Fund in fulfilment of guarantees given under the Trade Facilities Acts was in connection with the beet-sugar industry, and to what extent these sugar-beet defaults have been made good by the defaulters?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Duff Cooper)The total issues from the Consolidated Fund in fulfilment of guarantees given under the Trade Facilities Acts in connection with the beet-sugar industry amount to £1,104,346. Against these payments the Exchequer has so far received £12,000 in one case from the proceeds of liquidation, together with further sums amounting to £135,840 in respect of interest payable on capital repayments met from the Exchequer. It is anticipated that further recoveries will be made in due course.
§ Mr. MALLALIEUIn view of the widespread belief that this default is largely caused by companies controlled by Lord Weir, will he either confirm that belief or disprove it by some official announcement with a view to restoring public confidence in the Government's efforts to prevent profiteering?
§ Mr. LOUIS SMITHIs it not the case that so soon as this industry has been given a longer term of life the rest of this money will probably be refunded?