§ 31. Colonel Crosthwaite-Eyre
asked the Chancellor of the Exchequer what repayments of dollar loans incurred during the war were made in the immediate postwar years.
§ Sir E. Boyle
In the years 1945 to 1951, 296 million United States dollars on the Reconstruction Finance Corporation Loan and 402 and 12 million Canadian dollars on the interest-free loans from Canada and Newfoundland respectively.
§ Colonel Crosthwaite-Eyre
May I ask my hon. Friend whether he will circulate that reply to hon. Members on the Opposition Front Bench, particularly in view of their constant statement that repayments of war-time loans was one of the main reasons why the American Loan was so quickly exhausted?
§ Mr. H. Hynd
Is it not the fact that these loans are being repaid by £s which are worth much less than they were when the amounts were borrowed?