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51.
Mr. MANDER
asked the Chancellor of the Exchequer the total amount of debt owed by France to this country, remitted up to date, and forming a charge on the British Exchequer?
Mr. P. SNOWDEN
The net War Debt of France to Great Britain at the date of funding amounted to £600,000,000. On the 5 per cent. tables the present value of the annuities to be paid by France under the Funding Agreement is £227,000,000. On this basis, therefore, the settlement was equivalent to the remission of £373,000,000.
Mr. MANDER
Can the right hon. Gentleman say how many battleships France will be able to build on this money?