Captain CAZALETasked the Chancellor of the Exchequer the total amount of all guarantees for which the English Exchequer is responsible, including guaranteed loans both within and outside 534W the British Empire and all liabilities incurred by the Treasury under the trade facilities scheme; and what in the maximum annual liability for which the Treasury is responsible in respect of all such guarantees?
§ Major ELLIOTParticulars of all loans guaranteed by the British Government appear in the annual Finance Accounts to which I would refer my hon. and gallant Friend. The reference for the year 1930–31 is to House of Commons Paper 106, pages 82–85, and the Accounts for 1931–32 will appear in a few weeks. The guarantees under the Trade Facilities Acts are summarised in the Finance Accounts and fuller particulars will be found in the separate House of Commons Papers presented under Section 1 (5) of the Act of 1921, of which the latest is No. 75 of 1932. The conditions on which guarantees are given vary widely in individual cases, some being for interest only, others for interest and ultimate repayment of principal (against which Sinking Funds may be held), and still others for interest and Sinking Fund instalments. The further presentation of all these figures to give totals such as my hon. Friend desires would be a matter of considerable difficulty and would present certain possibilities of error. I shall, however, if my hon. Friend desires, examine the question further. The extent of the guarantee in each case separately is shown in the Papers referred to.