§ Sir C. Osborneasked the Chancellor of the Exchequer what is the cost of repaying in sterling at 2.40 the United States loan of 1945 of $3,750 million borrowed at 4.03 of which $3,089 million remains to be repaid, and the Canadian loan of 1946 of $1,185 million at 4.03 of which $976 million is still outstanding; how much interest has accrued and remains to be repaid; and if he proposes to repay any interest and principal this year.
§ Mr. CallaghanFor the cost of repaying the outstanding United States and Canadian lines of credit at the new rates of exchange I would refer my hon. Friend to the first part of the table in the Answer given to a Question by the hon. Member for Norfolk, South (Mr. J. E. B. Hill) on 27th November.
Accrued interest to be repaid amounts to U.S.$263 million and Can.$83 million 64W equivalent at the new rate of exchange, to £110 million and £32 million respectively.
As to the last part of the Question I have nothing to add to my reply to the hon. Member for South Angus (Mr. Bruce-Gardyne) on 14th November.—[Vol. 754, c. 22–4; c. 65.]