45. Mr. De la Bèreasked the Prime Minister whether he will consider moving to set up a select committee on foreign loans with a view to determining what default or partial default has occurred on British loans to foreign Governments since 1912?
§ The Prime MinisterNo, Sir. As regards market loans to foreign Governments information can be obtained from the annual reports of the Council of Foreign Bondholders and of the League Loans Committee. The outstanding amounts due to this country in respect of inter-Governmental debts are shown in the Annual Finance Accounts of the United Kingdom.
Mr. De le BèreIs the Prime Minister aware of the disastrous results of our foreign lending over a quarter of a century, and what steps are being taken to safeguard the savings of small investors against confiscation by foreign Powers which are quite unmindful of fair play and rightmindedness.
§ The Prime MinisterMy hon. Friend had better put that question on the Paper.
§ 48. Mr. Priceasked the Chancellor of the Exchequer whether the Foreign Loans Committee have received any application from the Italian Government or any Italian private banking or industrial concern in recent weeks to raise a loan in this country?
§ Sir J. SimonI have no knowledge of any such request.
§ Mr. PriceWill the Government frown upon any attempts made by Italian firms or banks to raise money in this country, in view of Italy's aggression in Spain?
§ Sir J. SimonThe Foreign Transactions Advisory Committee advises the 1034 Government on such matters, and I am certain that all relevant considerations will be borne in mind.