HC Deb 22 December 1976 vol 923 cc228-9W
Mr. Hatton

asked the Chancellor of the Exchequer whether he intends to exercise his right to defer the payments due on 31st December under the post-war loans from the USA and Canada.

Mr. Robert Sheldon

Yes. It has been decided to take advantage of the provisions in the 1957 Financial Agreements and defer payments of interest and repayments of capital due on 31st December. The American and Canadian Governments have been informed accordingly. The amounts to be deferred are $138 million and Can.$37.7 million, but payments totalling$12.6 million and Can.$3.5 million will be made in respect of interest on payments deferred on previous occasions.