HC Deb 10 March 1949 vol 462 c133W
56. Mr. Teeling

asked the Economic Secretary to the Treasury whether, in view of the fact that the amount owed to the four British companies interested in Buenos Aires Tramways Corporation in interest alone by the Argentine Government is not less than £7 million at the present rate of the peso and considerably more at the rates holding when interest payments were first due, he will inform the Argentine Government that their £70 million frozen in this country cannot be unfrozen until either a sum has been agreed to pay this debt, together with the still larger sum claimed for capital assets, in this country, or an equivalent sum allowed in the Argentine, with which we can purchase meat or other necessities.

Mr. Jay

This question does not arise, as the sterling balances held by the Argentine Government in this country are not frozen. As my right hon. Friend the Secretary of State for Foreign Affairs informed the hon. Member on 2nd March, His Majesty's Ambassador in Buenos Aires has full instructions to continue to pursue this matter with the Argentine authorities.