§ Mr. Gerry Fowlerasked the Secretary of State for Foreign and Commonwealth Affairs what is the annual amount by which he estimates that future grants in aid to the proposed Republic of Kiribati will be reduced because of the interest earned by revenues accruing to the Gilbert Islands revenue equalisation reserve fund from Banaban phosphates.
§ Mr. LuardInterest contributions from the fund of A$4.25 million per annum have been taken into account in determining the levels of grants in aid in 1980, 1981 and 1982.
§ Mr. Gerry Fowlerasked the Secretary of State for Foreign and Commonwealth Affairs whether he has agreed to meet future deficits in the budget in the proposed Republic of Kiribati by grants in aid; and, if so, for how many years.
§ Mr. LuardYes; from 1980 to 1982, when consultations will take place to examine the position beyond that year.