§ 49. Mr. Julian Ameryasked the Secretary of State for Foreign Affairs whether he is in a position to make a statement 955 on the negotiations in progress with the Egyptian Government over the settlement of Egypt's sterling balances.
§ Mr. Ernest DaviesThe Egyptian Government's reply to our latest financial proposals has only recently been received by His Majesty's Ambassador at Alexandria, and is now being studied.
§ Mr. AmeryCan the Minister say whether it is proposed in these negotiations to make dollars available to the Egyptian Government in settlement of the sterling balances?
§ Mr. DaviesThe amount of dollars, if any, which are made available is one of the matters which will be under discussion in the negotiations.
§ Mr. AmeryIn that case, can the Minister give an assurance that the fact that the continued closing of the Suez Canal to British tankers carrying British oil to British-owned refineries at Haifa is already costing us a large sum of dollars per year will be taken into account before further dollars are made available to the Egyptian Government?
§ Mr. DaviesThat, again, is an entirely different question from the one on the Order Paper.
§ Mr. Geoffrey LloydDoes not the Minister agree that the point raised by my hon. Friend the Member for Preston, North (Mr. J. Amery), is a matter which ought to be considered in these negotiations?
§ Mr. DaviesAll these things are taken into consideration when negotiations take place. These are negotiations concerning financial arrangements between His Majesty's Government and the Egyptian Government, and every relevant matter will be taken into account when they take place.