HC Deb 10 July 1952 vol 503 c1510
42. Mr. Hollis

asked the Chancellor of the Exchequer why Her Majesty's Government made a refund of $1,000,000 of Marshall Aid during the last quarter.

Sir A. Salter

The refund was made because the European Co-operation Administration provisionally reimbursed us for expenditure on oil at a higher price than that permitted under their price regulations.

Mr. Hollis

I am not quite certain that I fully understand even now. Why was the higher payment made in the previous quarter? Why was not the payment made at the right rate?

Sir A. Salter

All these reimbursements are, in the first instance, provisional. They have ultimately to be accounted for to the United States accounting authority, and at times there are adjustments of this kind. That does not mean, however, that the one million dollars in question will be finally lost to Britain.

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