HC Deb 18 December 1956 vol 562 cc1082-3
19. Mr. Jay

asked the Chancellor of the Exchequer who will be the owner of the special account into which he proposes to pay the waived interest on the United States and Canadian loans of December, 1945 and March, 1946, pending agreement to the waiver by the United States Congress.

Mr. H. Macmillan

This question is still under consideration, and I am therefore at present unable to add to the information I gave the House on Tuesday. 4th December.

Mr. Jay

If the Chancellor does not yet know whether this special account will be in the ownership of the British Government or the American Government, how can he claim that he will not be in default on this loan after 31st December?

Mr. Macmillan

Because we have not yet reached 31st December.

Viscount Hinchingbrooke

Is my right hon. Friend aware that some hon. Members on this side of the House would not look too favourably upon the Government's seeking a further loan from the United States at this time?

Mr. Macmillan

The Question is related to the waiver agreement, which has been under discussion between the two Governments for two to three years.