HC Deb 23 February 1953 vol 511 cc1715-6
26. Mr. Teeling

asked the Secretary of State for Foreign Affairs what is now the position concerning the official negotiations for compensating the British holders of shares in confiscated Argentine Utilities.

Mr. Nutting

My hon. Friend is no doubt referring to the Joint Committee which the Argentine Government stated they intended to convene by the 31st January to consider the claims of certain British utility companies. The Committee has not yet been convened. Her Majesty's Embassy are continuing to press the matter with the Argentine Government.

Mr. Teeling

Can my hon. Friend tell me why this is being done in the Argentine but not in the Philippines? Has not the same situation developed? Could not he let us know why the letter to the British Government which was sent at the time of the agreement has not been published when all other documents have? Exactly what is it proposed to do for our people?

Mr. Nutting

The letter has not been published in full because this was a confidential exchange of letters with the Argentine Government. I have already given my hon. Friend and the House full information about all material and substantial points in the letter. The difference between this and the Philippine situation is that the Government were concerned in the negotiations with the Argentine Government of which this exchange of letters formed part. That is why the Government are engaged in this matter and will continue to press it.

Mr. Teeling

Is not it true that the present situation as it has developed in the Argentine has resulted because of troubles in the past similar to those in the Philippines, and that it is only now that the British Government are taking up the question of our bondholders? Would not my hon. Friend try to do something for all bondholders abroad?