HC Deb 09 February 1976 vol 905 cc27-8W
Mr. John Page

asked the Secretary of State for Foreign and Commonwealth Affairs what proportion the sum of £1,900,000 paid by the United Arab Republic Government under the terms of the agreement dated 13th September 1971 represents when related to the total value of the nationalised assets belonging to British nationals; and how satisfactory is this agreement.

Mr. Rowlands

The sum of £1.9 million represents approximately 50 per cent. of the total value of assessed claims for British nationalised property, after the deduction of £200,000 to cover taxes, and so on, claimed as due by the Egyptians.

I regard this as a satisfactory settlement, comparing very favourably with settlements achieved with Egypt by other countries at the time.

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