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Europe (American And British Aid)

Volume 462: debated on Tuesday 1 March 1949

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35.

asked the Chancellor of the Exchequer if he will state the value, in pounds sterling, of the total aid received by Great Britain from the United States of America since the end of the European war by way of loan and Marshall Aid; and the total value, in pounds sterling, of the aid in cash and kind given by Great Britain to European countries during the same period.

£931 million has been received from the U.S.A. since the end of the European war by way of loan under the line of credit established by the Anglo-American Financial Agreement of 1945, and £208 million to date as Marshall Aid.

Aid by the United Kingdom to European countries in the form of cash, goods and services, amounted to £790 million between the end of the war and 31st December, 1948. This figure includes the net use of drawing rights resulting from the first two months' operation of the Intra-European Payments Scheme. Of the total assistance, £440 million is recoverable.