Anglo-Egyptian Payments Agreement

HC Deb 26 January 1948 vol 446 cc111-2W

Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer what sums up to 31st December, 1948, were transferred from No. 2 to No. 1 Accounts under the provisions of paragraphs 6, 8 (b) and 10, respectively, of the Annex to the Anglo-Egyptian financial agreement, dated 30th June, 1947

Sir S. Cripps

The figures are £7,954,000, nil and £1,250,000.

Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer the sum expended under the provisions of Article IV 2 (a) and (b), respectively, of the Anglo Egyptian payments agreement, dated 30th June, 1947.

Sir S. Cripps

The figures are nil and £1,129,000 respectively.

Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer the number and total value of No. 1 Accounts at 31st December, 1947, opened under the Anglo-Egyptian payments agreement of 30th June, 1947.

Sir S. Cripps

I am afraid I am not prepared to divulge this information.

Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer whether the balance of £12 million granted under Article V of the Anglo-Egyptian payments agreement of 30th June, 1947, has been utilised in its entirety by the Egyptian Government.

Sir S. Cripps

This £12 million was provided as a working balance, to be drawn down and replenished according to seasonal fluctuations in Egypt's sterling position. I have no reason to believe that it is being used otherwise than in accordance with the intention of the agreement.

Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer the sum to be paid to the Egyptian Government under Article III 1 (b) of the Anglo-Egyptian payments agreement of 5th January, 1948.

Sir S. Cripps

We believe this sum to be in the region of £1 million.