§ 114. Mr. Russellasked the Secretary of State for Foreign Affairs why there was a delay of five years in reaching agreement with the French Government for the payment of compensation to British owners of shares in nationalised French gas and electricity undertakings and what was the total amount of compensation paid.
§ Mr. Ernest DaviesThe negotiations for an agreement on this question, involving important points of principle on both sides, were extremely complicated and difficult and their conclusion was delayed by several serious disagreements. The main cause of delay in the early part of the negotiations was the question of the transferability of the sums paid in compensation. Thereafter, a further delay arose from the unwillingness of the French Government to grant most-favoured-nation treatment to British interests without equivalent treatment to French interests in British nationalised industries.
This difficulty was overcome at the end of 1950 and, despite further differences of detail, the agreement was finally signed in Paris on 11th April, 1951. Complete figures of the sums paid in compensation are not available, since the closing date for declarations under the agreement has been extended to 11th September, 1951.