HC Deb 08 June 1943 vol 390 cc546-7W
Mr. David Adams

asked the Chancellor of the Exchequer whether he is aware that of a total sum exceeding £72,000,000 guaranteed by the Treasury under the Trades Facilities Acts, 1921 to 1926, there remained outstanding at 31st March, 1943, about £8,300,000 due to the Treasury; what steps are being taken to recover this sum; and in what probable period?

Sir K. Wood

In quoting the figure of over £8,000,000 my hon. Friend is, I think, referring to the total outstanding balances of the guaranteed loans, which are repayable at various future dates, not to the Treasury, but to the lenders concerned. Of the sums advanced by the Treasury in fulfilment of its guarantees, an amount of £5,523,701 is at present unrecovered. Owing to the varying circumstances of the debtors, some of whose undertakings are in territories under enemy control, it is not possible to estimate how soon all advances will be recovered, but all possible steps are taken to enable recovery to be effected whenever circumstances permit.