§
Resolution reported:
That, for the purposes of any Act of the present Session to authorise the Treasury to guarantee certain loans by the International Bank for Reconstruction and Development to the Governments of colonial territories, it is expedient to authorise—
§ Motion made, and Question proposed, "That the House doth agree with the Committee in the said Resolution."
§ 11.5 a.m.
§ Mr. Lennox-Boyd (Mid-Bedford)Will the Secretary of State or the Under-Secretary explain why we have two Money Resolutions on the Colonial Loans Bill? We had one in November and another this week and some explanation would be of assistance.
§ The Under-Secretary of State for the Colonies (Mr. Rees-Williams)The reason for putting down the second Financial Resolution was to cover the same point as it is proposed to cover in Committee. That is to say, certain charges not covered in the original Financial Resolution are found to be 1592 necessary if loans are to be guaranteed from the Bank. That is exactly the same point as we shall be considering on the Committee stage.
§ Mr. Charles Williams (Torquay)Can the Under-Secretary give an idea of the total sum which may be wanted? Can he give some estimate? That would be more satisfactory.
§ Mr. Rees-WilliamsI am sorry I am unable to satisfy the hon. Member on that point. As I explained on Second Reading, this Bill is intended to enable Colonial Governments to borrow moneys from the Bank, if they so desire. I am quite unable to say at this moment to what extent they will take advantage of the facilities offered.
§ Mr. WilliamsThere is no limit?
§ Mr. Rees-WilliamsThere is no limit.
§ Question put, and agreed to.