§ 99. Mr. G. M. Thomson
asked the Chancellor of the Exchequer what amount of American aid will be received by Her Majesty's Government during the year ending 30th June, 1953; and how much of this is for purposes of defence.
§ Mr. Maudling
The amount of economic aid allotted to the U.K. for the U.S. fiscal year ending on 30th June, 1953, is $400 million, including $42 million which has been received under the Katz-Gaitskell Agreement (Cmd. 8020). Our receipts of economic aid in the year ended 30th June, 1953, are expected to be between $350 million and $400 million arising out of the allotments for the U.S. fiscal years 1952-53 and prior years. This aid is given to us to support our economy and hence our defence programme.
We are also receiving reimbursement of the cost of machine tools purchased from U.S.A. for the defence programme. Our receipts under this head in the year to 30th June, 1953, are expected to be about $50 million.
In addition, we are receiving aid in kind, that is, in the form of military equipment.