63.
asked the Chancellor of the Exchequer the amount in borrowing, up to 31st December, 1942, or near date, from each of the countries who are making common cause with us and whom we are defending, together with interest rates attached to such borrowing?
I will, with the hon. Member's permission, circulate in the OFFICIAL REPORT a list of the external loans contracted by His Majesty's Government in the course of the war as at 31st December, 1942. This figure must be distinguished from the much greater figure of the external liabilities of the country at large, which mostly takes the form of deposits of sterling or sterling securities held by overseas countries.
Can the Chancellor give the House some indication what these rates are? Would it be correct to say there are no interest rates above 3 per cent.?
The hon. Member is asking an entirely different Question.
No, it is part of the Question.
Following is the list:
The following table shows amounts borrowed by His Majesty's Government and outstanding at 31st December, 1942:
Country.
| Rate of Interest.
| Amount.
|
Per cent.
| £000 | |
| Canadian Government | Free | 157,303 |
| U.S.A.: Reconstruction | 3 | 90,819 |
| Finance Corporation. | ||
| Belgian Government | Free | 25,200 |
| Indian Government | 2¼ | 30,054 |
| East African Governments | 2½ & Free | 5,650 |
| Ceylon Government | 3, 2½, & Free | 4,324 |
| Federated Malay States Government. | Free | 2,038 |
| Trinidad Government | 3, 2 & Free | 2,016 |
| Newfoundland Government. | Free | 1,528 |
| Miscellaneous Loans from Colonies, etc. (under £1 million). | 4,759 | |
| 323,691 |