40. Mr. John Hallasked the Chancellor of the Exchequer when the first instalment was paid towards the repayment of the American loan of 1946; and how much has been paid in principal and interest since that date.
§ Mr. MaudlingThe total paid so far, in principal and interest respectively, is 183 million dollars and 295 million dollars on the line of credit, and 51 million dollars and 47 million dollars on the Lend-Lease settlement. The first instalments were paid on 31st December. 1951.
Mr. HallIs my hon. Friend aware that comparatively few people realise that in the last three and a half years, despite the increase in the cost of social services and the heavy burden of defence, we have managed to pay these instalments to America as they fell due Does not he think that this additional evidence of our economic recovery should be more widely known?
§ Mr. MaudlingI quite agree with my hon. Friend. The more that it is known, the better.