HL Deb 04 March 1964 vol 256 cc122-3

2.47 p.m.

LORD COLYTON

My Lords, I beg leave to ask the first Question which stands in my name on the Order Paper.

[The Question was as follows:

To ask Her Majesty's Government what is the total value of British property in Cuba confiscated under the Castro régime and what compensation has been paid.]

THE MINISTER OF STATE FOR FOREIGN AFFAIRS (THE EARL OF DUNDEE)

My Lords, no accurate valuation of British property confiscated by the Cuban Government has yet been made. Its value is, however, estimated at about £24 million, most of which is accounted for by the assets of the Shell Petroleum Company, which were taken over by the Cuban Government in 1960. No compensation has yet been paid.

LORD COLYTON

My Lords, in thanking my noble friend for his reply, may I ask him this? Would the Government not consider withholding any export licences for buses for Cuba or any facilities from the Export Credits Guarantee Department for trade with Cuba until a satisfactory arrangement for compensation has been reached with the Cuban Government? Would that not be the normal thing when a country goes Communist and all foreign assets are taken over?

THE EARL OF DUNDEE

My Lords, of course the export credits are given, not for the benefit of the Cuban purchasers, but for the benefit of our exporters who want to sell.

LORD COLYTON

Yes, my Lords, but that does not satisfy me. We have some £25 million owing to us. Can Her Majesty's Government say what steps they are taking to achieve an agreement on this question of compensation?

THE EARL OF DUNDEE

My Lords, the Cuban Government have offered to discuss compensation for British interests. Before we can open negotiations, we must first ascertain the necessary information about the value of the property confiscated, and this we are doing.

LORD COLYTON

My Lords, surely it is most illogical that we should be bolstering up the Cuban economy with export credit guarantees and buses and so on, and, at the same time, not getting payment of compensation for our own nationals.

THE EARL OF DUNDEE

My Lords, I would not say that we were bolstering up anything except the facilities of our exporters, who are merely insured against possible non-payment. That is what we are doing; not giving the Cubans credit.

LORD DOUGLAS OF BARLOCH

My Lords, if our exporters were not having that insurance, would they export to Cuba at all?