§ Captain Kerbyasked the Chancellor of the Exchequer the value of British-held Suez Canal Company shares before Colonel Nasser unlawfully seized the Company's property; and what action is proposed with a view to recompensing the shareholders.
§ Mr. BirchThe market value of Her Majesty's Government's holding on 25th July, 1956, was about £29 million. I have no information about other British-owned shares. Compensation for the Company, and thus for the shareholders is, in the Government's view an important aspect of a final settlement of the Suez Canal problem and the Security Council's Resolution of 13th October, 1956, for which the United Kingdom voted, envisages a settlement by arbitration in case of dispute between the Suez Canal Company and the Egyptian Government.