§ Sir F. WISEasked the Chancellor of the Exchequer if Germany reimbursed her traders to the extent of 26 per cent. under the German Reparation (Recovery) Act, and was this paid by paper or gold bonds; and in what proportions?
§ Mr. SNOWDENDown to 17th November last the German Government paid its exporters in paper marks on their presenting customs receipts. After 17th November, it did not pay the exporters except in respect of goods covered by existing contracts, in which case it paid 20 per cent. in bonds.
§ Sir F. WISEasked whether the German Export Committee is still in existence in connection with the German Reparation Recovery Act?
§ Mr. LUNNI have been asked to reply. I presume the hon. Member is referring to the Committee appointed by the Board of Trade under the provisions of Section 5 of the German Reparation (Recovery) Act. This Committee is still in existence.
§ Sir F. WISEasked if the British representative on the Reparation Commission was consulted in regard to the alteration in the German Reparation (Recovery) Act?
§ Mr. SNOWDENI do not think it in the public interest to indicate what particular officials have advised on particular issues. The decision is that of Ministers.
§ Sir F. WISEasked the Chancellor of the Exchequer the amount received from the German Reparation (Recovery) Act to 31st December, 1923; and have the proceeds been credited to Revenue Account?
§ Mr. SNOWDENThe amount received from the date of Act (March, 1921) up to the 31st December, 1923, is approximately £18,000,000. The receipts are paid into the Exchequer from time to time as "Miscellaneous Revenue: Special Receipts" (see page 36 of the Finance Accounts of the United Kingdom, 1922–23—House of Commons Paper No. 89).
§ Captain TERRELLasked the Prime Minister what countries still impose on Germany the full reparations levy which 706W we have abandoned; whether there was, on this subject, any understanding between the Allies in respect to common action; and whether, in that case, our other Allies have been consulted in the matter?
§ Mr. SNOWDENThe rate of levy under the Act is such rate (not exceeding 50 per cent.) as may from time to time be fixed by the Treasury. It was, in fact, reduced from 50 per cent. to 26 per cent. in May, 1921, just as it has now been reduced to 5 per cent. No other country has in force legislation similar to the German Reparation (Recovery) Act and there is no understanding between the Allies as to common action on the subject. The last part of the question does not therefore arise.