HC Deb 10 May 1968 vol 764 cc155-6W
Mr. Speed

asked the Chancellor of the Exchequer what has been the total cost to the Exchequer of sanctions against Rhodesia, and the Rhodesian situation generally, in each of the calendar years 1966 and 1967 and in this year to the latest convenient date.

Mr. Harold Lever

Direct payments from the Exchequer arising from Rhodesian I.D.I. are as follows:

£ million
1966 … 14.6
1967 … 12.8
1968 (to 31st March) … 2.0

These include payments made to the International Bank for Reconstruction and Development under guarantee in respect of Rhodesian default, contingency aid to Zambia, the cost of operating the patrol of the Mozambique channel and Her Majesty's Government's contribution to the upkeep of the Beira pipe-line.

Mr. Speed

asked the Chancellor of the Exchequer what has been the cost to the Exchequer of servicing Rhodesia's external debt guaranteed by the United Kingdom in each of the calendar years 1966 and 1967, and this year to the latest convenient date.

Mr. Diamond

The only guarantees in respect of Rhodesia's external debt given by the United Kingdom are those under the Colonial Loans Acts, 1949 to 1962 relating to certain obligations by the Government of Southern Rhodesia to the International Bank for Reconstruction and Development. Total sums issued out of the Consolidated Fund in fulfilment of these guarantees are as follows:

Calendar years
1966 … £2,605,865
1967 … £2,709,423
1968 (to 8th May) … £658,402

Details of the payments made in the Financial years 1966–67 and 1967–68 are given in H.C. 492 of 31st May, 1967 and H.C. 228 of 30th April, 1968. Recovery of the sums issued under these guarantees will be sought from the Government of Southern Rhodesia when constitutional Government is restored there.

Mr. Speed

asked the Chancellor of the Exchequer what was the total of United Kingdom invisible payments to Rhodesia in each of the calendar years 1965, 1966 and 1967.

Mr. Harold Lever

Invisible payments due to residents of Rhodesia were probably about £8 million in 1965 and £2 million in 1966 and in 1967.