HC Deb 10 May 1938 vol 335 cc1413-4
46. Mr. Chapman

asked the Chancellor of the Exchequer whether, in order to prevent loss of tax revenue on British savings already invested in foreign countries for the extension of Anglo-foreign trade, he has considered the official statement of the President of Brazil that payment of interest upon the Brazilian debt borrowed in London will be resumed when it shall suit Brazil's economy, with the alternative suggestion that this sterling debt shall be replaced by Brazilian currency bonds; and will he say what the attitude of His Majesty's Government is towards this statement?

The Chancellor of the Exchequer (Sir John Simon)

I can assure my hon. Friend that His Majesty's Government attach the greatest importance to the resumption of payments on the Brazilian External Debt in the currencies provided for in the Loan Contracts, and that they have given, and will continue to give, the fullest support to the Council of Foreign Bondholders in the matter.