HC Deb 02 February 1939 vol 343 cc385-6W
Mr. Parker

asked the Chancellor of the Exchequer to what extent His Majesty's Government have been called upon to implement their guarantee of the public debt of Newfoundland under the Government of Newfoundland Act, 1933; and what has been the total amount paid out by the British Treasury under this Act, as free grants, as interest, on account of appointment by the United Kingdom of governor and commissioners, and for any other purpose?

Sir J. Simon

His Majesty's Government have not been called upon to implement the guarantee authorised by Section 3 of the Newfoundland Act, 1933, the advances in aid of administration under Section 2 of the Act having enabled the Newfoundland Government to meet their obligations in full.

The reply to the second part of the question is as follows:

The total amount advanced during the financial years 1932–38 inclusive by way of grant in aid of the expenses of the administration of Newfoundland, including the service of the public debt, is £2,245,084 2s. 6d. Of this sum, £554,990 was advanced before the change in the form of government authorised by the Newfoundland Act, 1933.

This sum does not include:

  1. (a) The salaries of the United Kingdom members of the Commission of Government. Expenditure on such salaries, partly estimated for the current year, will have amounted to £33,636 by the 31st March next.
  2. (b) Passage allowances granted to governors on first appointment and on final departure. Such allowances were in force before the changes authorized by the Newfoundland Act, 1933.
  3. (c) Advances made under Section 4 of the Newfoundland Act, 1933. Such advances amounted to £1,458,291 19s. 3d., and were refunded, 386 together with interest at 3 per cent., from the proceeds of Newfoundland Government Guaranteed Stock created and issued to the National Debt Commissioners.
  4. (d) Advances made from the Colonial Development Fund, which have amounted to date to £727,630 by way of loan and £15,790 by way of grant,
  5. (e) Certain grants for fishery research originally approved from the Empire Marketing Fund before the change in the form of government, amounting to £25,965.