HL Deb 12 December 1967 vol 287 cc1003-4

2.41 p.m.

LORD TWEEDSMUIR

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 in a position to make a statement regarding the compensation to be paid by the Government of Tanzania to the various British-owned concerns that were nationalised by that Government in February of this year.]

THE MINISTER OF STATE FOR COMMONWEALTH AFFAIRS (LORD SHEPHERD)

My Lords, the Tanzanian Government have reached agreement on compensation with four of the British-owned concerns. Negotiations with the remainder, including the three banks, are still in progress.

LORD TWEEDSMUIR

My Lords, I am obliged for that Answer, but can Her Majesty's Government give an assurance that, before accepting a settlement, they will satisfy themselves that such compensation as is paid, is paid in some medium that is freely negotiable outside Tanzania?

LORD SHEPHERD

My Lords, it has been the wish of the companies concerned to undertake the negotiations with the Tanzanian Government themselves, and since those companies were nationalised, or partly taken over, no representa- tions have so far been made to Her Majesty's Government. However, as my noble friend Lord Beswick said earlier this year, Her Majesty's Government are always willing, should they be approached, to assist the companies.