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International Loans And Gifts

Volume 465: debated on Tuesday 24 May 1949

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asked the Chancellor of the Exchequer the total amount in gifts and loans Great Britain has received since August, 1945, to date, from other countries; and the total amount in loans and gifts which Great Britain has made to other countries during the same period.

From August, 1945, to date, the United Kingdom has received from other countries gifts and loans to the value of £1,278 million. In addition, E.R.P. aid to the United Kingdom amounted to £275 million up to the 21st May, 1949, and drawing rights exercised by us under the Intra-European Payments Agreement were £7½ million. During the same period the sum of £885 million was made available to other countries by the United Kingdom and drawing rights exercised on us by other countries totalled £41 million.

Having due regard to our financial position, does not my right hon. and learned Friend think that these figures reveal that no nation in the world has been more generous to other countries than has this country, and will he see to it that in future publications what we have done for the world is given equal publicity with what America is supposed to have done on our behalf?

I think that the American people have been extremely generous in their assistance to the world, and we have done our best to help others, too.

Will the right hon. and learned Gentleman bear these figures in mind and call attention to them when he and his colleagues draw comparisons between the post-war Government after the first war and the post-war Government after the last war?

Certainly, Sir. We bear everything in mind when we make such comparisons.