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Anglo-Egyptian Payments Agreement

Volume 446: debated on Tuesday 27 January 1948

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58.

asked the Chancellor of the Exchequer for what reasons His Majesty's Government are satisfied with the terms of the Anglo-Egyptian Payments Agreement dated 5th January, 1948.

Because they were the best obtainable in the circumstances of the negotiations and did justice to the needs of both parties.

When the Chancellor of the Exchequer says that it does justice, does he include the handing over of this amount of convertible currency to the Egyptians, and is he aware that this currency will be used to our detriment and for purposes of luxury by the Egyptians while we suffer austerity at home?

If we take all the circumstances of the agreement together, I think that justice has been done.

Will the right hon. and learned Gentleman say wherein is the justice?

If we take all the circumstances of the agreement together, they will be seen to be just to both parties.

Is this not another case of the right hon. and learned Gentleman's Department dealing with finance and not morals.