§ 64. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer the total involved in the adverse balance of payments between this country and the Argentine for 1946; and that anticipated for 1947.
§ Mr. Dalton£50 million in 1946. I cannot yet usefully give a figure for 1947, which must depend on a large number of uncertain factors.
§ 65. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer the total revenue received from British investments in the Argentine for 1945 and 1946, respectively, and that anticipated for 1947.
§ Mr. Dalton£12,500,000 and £13,000.000 respectively. Revenue in 1947 cannot be estimated.
§ 66. Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer whether His Majesty's Government are satisfied with the agreement concluded with the Argentine for the purchase by that country of the holdings in Argentine railways held by British investors; and if he will make a statement.
§ Mr. DaltonYes, Sir. The agreement is subject to approval by the shareholders of the companies.
§ Colonel Crosthwaite-EyreIs the Chancellor of the Exchequer aware that of the £15o million paid, £125 million has simply been redeemed by the proceeds of sterling balances, and that this is the perfect example of no counter claim being made, and that for £25 million of Argentine currency we are selling our most: valuable assets in South America?
§ Mr. DaltonOne might have a considerable Debate on this subject. [HON. MEMBERS: "When?"] I was asked whether the Government are satisfied, and my answer is "Yes, we are." But when I speak of that, I think, of course, of the whole of the Argentine Agreement of which this is only one part.
§ Colonel Crosthwaite-EyreIn view of the unsatisfactory nature of the reply, I beg to give notice that I shall raise the matter on the Adjournment at the earliest possible time.