§ LORD KILLEARNMy Lords, I beg leave to ask the second Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government whether, in view of the recent statement by the Secretary of State for Foreign Affairs that a further distribution by the Foreign Compensation Commission (out of the Fund of £27½ millions) is being considered, they would not consider it advisable to discuss the possible terms of this additional distribution with the representatives of the claimants.]
THE EARL OF HOMEMy Lords, Her Majesty's Government are in constant touch with representatives of the claimants and their views have been most carefully taken into account in drawing up the terms of the further interim distribution which has been provided for in the Order in Council which was laid before your Lordships to-day. This Order makes certain technical amendments to the Foreign Compensation (Egypt) (Interim Distribution) Order, 1959 and sets out a new scale for the payment of compensation to those claimants whose property was taken over by the Egyptian Government or sequestrated by them. It supersedes the scale 6 laid down in the 1959 Order, and provides for increased payments to those whose claims exceed £10,000. Under the new Order compensation will be paid at the following rates: 70 per cent. on the first £5,000 of each claim; 50 per cent. on the next £45,000 of each claim; 25 per cent. on the next £450,000 of each claim, and 20 per cent. on all amounts over £500,000. This new scale will benefit the middle and larger claimants who, under the original scale, received a much smaller percentage than those with claims below £10,000.
§ LORD KILLEARNMy Lords, I beg to thank the noble Earl for his full Answer. When I put down my Question, of course, I was not aware that we should have a new Order in Council so soon which largely answers the point I have raised. I should like to thank the noble Earl once more.
§ LORD BARNBYMy Lords, would it be possible for the noble Earl to give some indication as to the proportion of the total outstanding debt solely under the Egyptianised sector of the problem compared to the remainder still unpaid after the distribution to which he has referred, the details of which, in the absence of the White Paper, it is difficult for us exactly to assess?
THE EARL OF HOMEMy Lords, I do not want to do more than make a guess, taking the Egyptianised and desequestrated property together. This distribution will amount to a good many millions, I think somewhere in the neighbourhood of £20 million; and up to now only £1½ million has been distributed.
§ LORD BARNBYMy Lords, in thanking the noble Earl for that reply, may I ask if it is to be understood, from the figures he has quoted, that the remainder to be distributed would give a small proportion to the larger claims of the outstanding Egyptianised assets? The figures he gave emphasised payment of a larger percentage of the small ones, and the larger ones would have but little left from which to get a distribution.
THE EARL OF HOMEOf course there will have to be a final distribution which we shall have to consider at the time. I was saying that I can only make a rough guess: and it might be a little more than £20 million or it might be 7 less. But when we come to the next distribution, then we shall have to consider what sum is available and how it should be distributed. I hope your Lordships will feel satisfied that, as I promised, we have done this as quickly as we could in the last few weeks, and I think that this will meet the point made to me by the noble Lord a week or two ago.