§ 43. Mr. Goughasked the Secretary of State for Foreign Affairs what progress has been made by the Foreign Compensation Commission in agreeing the compensation to be paid by the British Government to British commercial concerns and private individuals who have lost assets as a result of the action of the Egyptian Government; and whether he will make a statement.
§ Mr. ProfumoThe £27½ million compensation paid by the Government of the United Arab Republic under the Financial Agreement of 28th February, 1959, is being distributed by the Foreign Compensation Commission under Orders in Council which came into force on 9th April and 30th July and 24th October, 1959. Between 9th April, 1959, and 30th June, 1960, the Commission received 3,600 application forms from commercial concerns, unincorporated associations, and individuals, but in 2,356 of these cases no actual claim has yet been formulated. Of the remaining 1,244 claims 544 have already been provisionally assessed or otherwise dealt with. Many of the others are still awaiting the production of the evidence necessary to establish claims.
The total of provisionally assessed claims is £4.1 million, of which £4 million relates to Egyptianisation claims. The remainder is in respect of property 69W lost, injured or damaged while under sequestration.
While the majority of claims in respect of Egyptianised property should by now have been received, claims in respect of losses on desequestrated property can only be formulated after the property has been recovered and any damage ascertained, so it is probable that only a small proportion of these claims has yet been received by the Commission.