HL Deb 21 November 1961 vol 235 cc798-800

2.48 p.m.

LORD BARNBY

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 they are now able to state if another distribution from the sum set up as compensation against Egyptianised property may shortly be expected.]

THE SECRETARY OF STATE FOR FOREIGN AFFAIRS (THE EARL OF HOME)

Yes, my Lords. An Order will be submitted to the Privy Council either at its next meeting on November 27 or as soon afterwards as this can be arranged, providing for a further distribution from the Egyptian Compensation Fund by increasing the amounts at present payable under the Interim Distribution Order.

LORD BARNBY

My Lords, while thanking the noble Earl for that reply, may I ask whether it is to be understood that there has been no further distribution since the second one? And is it correct still that only £6¼ million out of the total set aside for this purpose of £28¼ million has, as yet, been distributed? Could I also ask whether it is likely that with the next distribution there will be some revision of the percentages, because in the case of the larger sums, over £500,000, the unrealistic amount is only 20 per cent.? It would be, in appearance, only equitable that the percentage should be increased so that a more realistic distribution should be made.

THE EARL OF HOME

My Lords, my noble friend is right: the last distribution was on December 6, 1960, and this will be the third distribution of this kind. As to the details in the Order in Council, it will be published, I hope, early in December. I would ask my noble friend to wait to study the Order before I comment any further.

LORD BALFOUR OF INCHRYE

My Lords, arising out of that reply of the noble Earl the Foreign Secretary, which dealt with a further payment for Egyptianised property, may I ask him this? In view of the fact that the fund of £27½ million was set up as compensation not only for Egyptianised but also for sequestrated property, and that the total claims for both may be £60 million, are Her Majesty's Government accepting the responsibility for the shortfall, which is inevitable in view of the money available against total claims? Unless it is made good, it will fall upon these innocent citizens who did much for British interests abroad before the debacle in Egypt.

THE EARL OF HOME

My Lords, we have had many debates upon this subject, and my noble friend Lord Balfour of Inchrye knows that the Government have said that, if it is necessary to supplement the sum, that will be considered at the time. At the moment I think I must stick to the supplementary answer which I gave to my noble friend Lord Barnby, that the Order in Council will come out early in December. If noble Lords are not satisfied then, they will no doubt say so. But this is, I hope, a move consistent with what I have said earlier on in this House, that we are trying to help these people to the best of our ability.

LORD BARNBY

My Lords, will the noble Earl use his influence to ensure that the announcements are made as early as possible in December?—because I would remind him that on July 17, in answer to a Question in this House asking whether the Government would be able to make a statement with regard to the matter before the House rose for the Summer Recess, the noble Marquess, Lord Lansdowne, said, "I should hope so". In fact, of course we had no opportunity to discuss it before the Session came to an end. I, therefore, hope that the noble Earl will be able to give us some encouragement that his influence will produce the statement well before the House rises for the Christmas Recess, so that there is an opportunity to discuss it or to raise it in this House.

THE EARL OF HOME

My Lords, I have given the date; it is November 27. And soon after that the Order in Council could be discussed, if noble Lords so wished.

LORD BARNBY

My Lords, I misunderstood the date. I thank the noble Earl.

THE EARL OF HOME

My Lords, it will be laid before the House on December 1. If it is issued on November 27 it will be laid before the House on December 1.

LORD KILLEARN

My Lords, may I ask the noble Earl a supplementary arising out of this Question? I have not given notice of it, I regret to say. It has been stated in the Press that the £27½ million which is invested is producing interest. It has been stated in the Press that on that interest income tax is charged. I should like to ask the noble Earl whether that is correct and, if so, whether it is justified.

THE EARL OF HOME

My Lords, I should like notice of both those questions.