§ 61. Mr. DAYasked the Chancellor of the Exchequer what portion of the £450,000,000 borrowed by the French Government in London during the late War still remains unpaid; and will he give particulars?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. W. S. Morrison)I would refer the hon. Member to the agreement for the settlement of the French War Debt (Command Paper 2629 of 1926) and to the figure published on page 6 of the Financial Statement, 1936–37.
§ Mr. DAYCan the Financial Secretary say whether the figure includes the £142,000,000 borrowed in the market in England?
§ Mr. MORRISONIf the hon. Member will look at the figures to which I have referred he will get the answer.
§ Mr. H. G. WILLIAMSCan my hon. and learned Friend say whether the total is the correct total of day-to-day borrowing which took place during the War?
§ Mr. MORRISONThe matter is complicated by the fact that in 1926 a funding agreement was come to, and, as a result of that, annuity payments were made representing both interest and capital, and it is very difficult on that account to name the precise capital sum that is still outsctanding.
§ Mr. THORNEIs it the fact that at the time of Reparations we in this country made a concession we in this country made a concession to France of about £450,000,000, on which we are paying interest now.