§ LORD KILLEARN
My Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government whether any interest is accruing on the £27½ million sterling paid by Egypt under the Anglo-Egyptian Financial Agreement of February 28, 1959; if so, at what rate, as from what date, and how much has already accrued.]
§ THE JOINT PARLIAMENTARY UNDER-SECRETARY OF STATE FOR FOREIGN AFFAIRS (THE MARQUESS OF LANSDOWNE)
Yes, my Lords, interest has accrued and is accruing from the sum's invested by the Foreign Compensation Commission and is being added to the Egyptian Compensation Fund. The rate of interest Obtained upon Treasury Bills in which the money has been invested has varied between £3 7s. 4d. and £5 11s. 4d. per cent.: the average rate has been £4 Is. 4d. per cent. On June 1, 1959, £3½ million was 995 paid to the Commission and the balance of £24 million was paid on February 29, 1960: interest on this money amounting to £1,116,690 has accrued to the Egyptian Compensation Fund.
§ LORD KILLEARN
My Lords, while thanking the noble Marquess for the figures he has been good enough to give to the House, I wonder if he could answer this supplementary question, of which I tried to give him notice before we came in, though I am not sure whether I succeeded. Of the £1½ paid out by the Foreign Compensation Commission against Egyptianised claims and the £100,000 for sequestration claims, what amount has been paid to private claimants and companies, and what amount has been deducted against so-called "hardship loans"?
§ THE MARQUESS OF LANSDOWNE
My Lords, I must apologise to the noble Lord, because I have not got those figures and I shall have to ask him for notice of that question. I will certainly obtain them for him.