§ 50 and 51. Mr. Hirstasked the Lord Privy Seal (1) how much of the £27,500,000 earmarked under the financial agreement with Egypt for compensation against assessed claims for property and other assets of British nationals taken over by the Egyptian Government will remain after payments have been made, as a result of the Order in Council laid before Parliament on 6th December, 1960, on debts already proved at that date;
(2) what steps Her Majesty's Government propose to take to honour their obligations to British nationals against assessed claims for property and other assets taken over by the Egyptian Government that are in excess of the sum of £27,500,000 earmarked under the financial agreement with Egypt.
§ Mr. HeathI estimate that after payment has been made on claims actually assessed by the Foreign Compensation Commission up to 6th December according to the scale laid down in the Order in Council referred to by my hon. Friend, approximately £20 million will remain out of the £27½ million which was paid to Her Majesty's Government by the Government of the United Arab Republic.
103WIt would be premature for Her Majesty's Government to take any decision at present about what should be done to meet assessed claims if the compensation fund should prove to be insufficient.
§ 55. Mr. Wallasked the Lord Privy Seal whether he is aware that desequestrated assets and funds released by the Egyptian authorities are subsequently blocked and become valueless for local use or for transfer out of Egypt, and that desequestrated property is often requisitioned or let to tenants who cannot be evicted and that the Anglo-Egyptian Financial Agreement has therefore failed to provide the relief and compensation expected; and what action he will take to ensure that the agreement is fully implemented.
§ Mr. HeathI am aware that a number of administrative difficulies have tended to hold up the full implementation of the Anglo-Egyptian Financial Agreement. Talks are in progress in Cairo on the solution of these difficulties.