§ 7. Mr. Brewisasked the Secretary of State for Commonwealth Affairs what compensation has been received from Tanzania for the nationalisation of British banks.
§ Mr. George ThomasNone, as yet. The claims for compensation submitted by the three British commercial banks are being considered by the Tanzanian authorities.
§ Mr. BrewisHas the hon. Gentleman seen a 7ecent statement by the Finance Minister of Tanzania to the effect that Tanzania will not pay any compensation at all? What is he doing to stand up for the interests of British companies there?
§ Mr. ThomasI am pleased to say that the Tanzanian Finance Minister has denied flat statement. He has said:
There is no truth in this. We are ready to discuss and settle claims for compensation submitted by the British banks.
§ Mr. Biggs-DavisonIs it not almost impossible for Tanzania to pay adequate compensation? While one sympathises with some of the sentiments in the Arusha Declaration, cannot Her Majesty's Government get together with the Tanzanian Government to see whether private enterprise can continue to help that country?
§ Mr. ThomasThe Tanzanian authorities have assured us that full and fair compensation will be paid—
§ Mr. Biggs-DavisonOut of what money?
§ Mr. ThomasThe hon. Gentleman must wait for the Tanzanian Government to keep their word, as they will.