§ Mr. Barnettasked the Chancellor of the Exchequer if he will give the separate totals of military and civilian sales against the offset agreement to date with West Germany for the two years to 31st March, 1966.
§ Mr. DiamondOf sums actually received in the two year period up to 31st March, 1966, £41.3 million and £21.0 million respectively.
§ Mr. Barnettasked the Chancellor of the Exchequer what amount remains outstanding in respect of the offset arrangements with West Germany for the two years to 31st March, 1966.
§ Mr. DiamondThe estimate of £116 million for the two-year period ending 31st March, 1966, has two components:256W
- (a) receipts estimated at £71 million against which £62.3 million has already been received;
- (b) additional transactions financed under Article 5 of the 1965 Protocol estimated at £45 million. Although commitments have been made which should in time account for the whole of this figure the exact value at any moment of payments made independently to United Kingdom suppliers cannot be accurately ascertained.
§ Mr. Barnettasked the Chancellor of the Exchequer if it is still his policy that it will take until 31st March, 1968, before the substantial proportion of German offset costs are paid in respect of the two years to 31st March, 1966; and when he estimates that the total offset costs for this period will be met.
§ Mr. DiamondMany of the transactions to be financed under the provisions of Article 5 of the Protocol of the 20th July, 1965, are covered by long-term contracts. Delay in completion of payments is therefore inevitable.