§ 34. Mr. Skinnerasked the Chancellor of the Exchequer what is the latest estimate of the total level of rescheduled debt; and what is his estimate of total tax relief available in the last available year to British banks based on bad and doubtful rescheduled debts.
§ Mr. MooreWe do not keep comprehensive statistics of total rescheduled debt and there would be problems of definition and coverage in compiling such a total. Individual debtor countries may reach separate debt restructuring agreements with different groups of creditors, including groups of international banks or groups of governments of creditor countries as appropriate. The agreements may take various forms, including rescheduling or new lending or a mixture of both. In a number of cases, especially South American countries, debt restructuring agreements are currently under negotiation. It is not possible to make an estimate of tax relief in relation to the second part of the question.