§ 30. Mr. Teelingasked the Chancellor of the Exchequer, in view of the fact that President Nasser values the British arms dump in the Suez Canal area, which he has seized, at £300 million, although it has been valued by Her Majesty's Government at £40 million, if he will therefore write the figure of £300 million off our debt to Egypt from the Second World War, thus covering the costs of our present expedition.
§ Mr. H. MacmillanHer Majesty's Government naturally reserve the right to claim adequate compensation for any damage sustained by their installations in the Suez Canal base. The means by which any such claims should be settled will require consideration at the appropriate time.
§ Mr. TeelingDoes my right hon. Friend realise that the vast majority of people in this country who have any memories at all consider that we have done a tremendous amount for Egypt in the past, and deeply resent that after the Second World War they should have claimed anything from us for that war at all? Under the circumstances, will he take into consideration how very bitter people will feel if every penny we possess connected with Egypt is not kept by ourselves?
§ Mr. MacmillanYes, but I think our major objectives will be obtained—and all this must be relevant—if we can, as a result of all this, get a lasting settlement and peace in the Middle East.