HC Deb 12 June 1956 vol 554 cc224-5
26. Pargiter

asked the Chancellor of the Exchequer the amount of the original Dawes and Young loans subscribed by this country to Germany; how much has been repaid; and whether any repayments are now being made.

Mr. H. Macmillan

The amount subscribed by this country was £12 million in each case. Dawes and Young bonds to a face value of £2,841,400 and £825,700 respectively have been repaid. No repayments of capital are at present being made, but current interest is being paid. Sinking funds for the redemption of the loans are to be set up in 1958.

Mr. Pargiter

Is it the intention that Germany should repay these loans, or that she should continue to evade her responsibilities?

Mr. Macmillan

No; the Germans are paying interest, and I have no reason to suppose that they will not carry out their obligation to set up the sinking funds, as agreed, in 1958.