HC Deb 07 November 1980 vol 991 cc701-2W
Mr. John Patten

asked the Chancellor of the Exchequer when legislation will be introduced to effect the write-off of guarantee payments made by Her Majesty's Government from the Consolidated Fund to the International Bank for Reconstruction and Development in respect of loans made by the bank before 1965 to form Governments of Southern Rhodesia.

Mr. Lawson

Under the terms of the settlement between Her Majesty's Government and the Government of Zimbabwe concerning pre-1965 debts of the former Rhodesian Government, Her Majesty's Government have agreed to write off £13.4 million of Consolidated Fund payments made in fulfilment of guarantees given to IBRD for loans raised by former Governments of Southern Rhodesia to finance thermal power plant, railways and agriculture. It is the intention to legislate to effect write-off as soon as practicable by means of a provision in a miscellaneous financial provisions Bill. Until such time as a Bill is passed, the outstanding claim will be noted in the Suplementary Statements to the Consolidated Fund Accounts and statements will be laid before each House of Parliament in accordance with section 3(b) of the Colonial Loans Act 1949.