§ 35. Mr. Gammansasked the Secretary of State for Foreign Affairs if the action by the Government of Burma in expropriating the Irrawaddy Flotilla Company and the British Teak Companies was discussed with His Majesty's Government before the treaty was signed; what terms have been offered to the shareholders of these companies; and if he is satisfied that the Government of Burma holds or can command sufficient foreign currency to pay full and reasonable compensation for these expropriations.
Mr. McNeilThe Government of Burma have not expropriated the Irrawaddy Flotilla Company or the teak companies, though they have intimated their intention of nationalising the former and certain concessions held by the latter. At the time of the negotiation of the Treaty of 17th October, 1947, the Burmese intention to pursue a policy of nationalisation of basic industries was well known. His Majesty's Ambassador reports that discussions have been initiated by the Burmese Government with the representatives in Burma of the Irrawaddy Flotilla Company and of the timber interests, but no terms have yet been offered by the Burmese Government.
As regards the last part of the Question, His Majesty's Government presume that the Burmese Government have this consideration in mind. At the time of the conversations last October, the Burmese delegates assured us that in carrying out their policy of nationalisation they intended to afford equitable compensation in a suitable form to the private interests involved. The intention to pay equitable compensation was embodied in an exchange of notes annexed to the Treaty.
§ Mr. GammansCan the right hon. Gentleman give an assurance that, if these assets are expropriated, the owners will be paid in the currency which they want; 25 and, further, is he aware that, if there is any breakdown in transport on the Irrawaddy, it will very seriously affect the rice position in South-East Asia?
§ Commander NobleWill an opportunity be given to the Admiralty to acquire these ships?