§ 50. Mr. Errollasked the Chancellor of the Exchequer to what extent the British Government are compelled to make Swiss francs available to the Egyptian Government.
§ Mr. DaltonUnder the arrangements set out in Cmd. 6792 an agreed total of hard currencies, including Swiss francs, equivalent to 12 million Egyptian pounds, is placed at the disposal of the Egyptian authorities for all purposes for the year to 31st March, 1947.
§ Mr. ErrollIs there any control over the use which the Egyptian Government make of those hard currencies? Can the right hon. Gentleman explain why Egyptians are given more generous allowances of Swiss francs for tourist purposes in Switzerland than British citizens?
§ Mr. DaltonIt is because the Egyptians are not subject to all the difficulties to which we are subject, and in particular that, in terms of sterling balances, the Egyptians regard themselves as creditors and ourselves as debtors.
§ Sir Peter MacdonaldIs it not a fact that we are debtors because we spent so much money defending Egypt?
§ Mr. DaltonI would not deny that