HL Deb 31 July 1963 vol 252 cc1250-1WA

asked Her Majesty's Government:

With regard to the details reported of distribution to date under the Foreign Compensation (Egypt) Order 1963, whether they will state the total of distribution to date in respect of:—

  1. (a) Egyptianised property;
  2. (b) Sequestrated property;
and the total sum remaining from which further distribution can be made.


Information obtained from the Foreign Compensation Commission shows that up to June 30, 1963, the last day for which figures are available, the following sums have been distributed under the Foreign Compensation (Egypt) (Final Distribution) Order 1963:

(a) Egyptianised Property: £17,693,978 2 0
Less deduction in respect of ex-gratia loans 772,720 8 0
Total actual payments: £16,921,257 14 0
(b) Sequestrated Property: £4,109,309 7 11
Less deduction in respect of ex-gratia loans 911,517 15 1
Total actual payments: £3,197,791 12 10

The total sum remaining as at June 30, 1963, from which further distribution can be made is approximately £12.3 million made up as to £6.8 million the balance of the £27.5 million received from the United Arab Republic plus net interest and as to £5.5 million the estimated amount to be provided by Her Majesty's Government in accordance with my statement to the House of December 11, 1962.