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Foreign Loans: World War Two

Volume 472: debated on Tuesday 4 March 2008

To ask the Chancellor of the Exchequer what payments were made to the US in respect of war debt incurred by Britain during and following the second world war, including the (a) line of credit and (b) land lease loan in each of the last 10 years; and if he will make a statement. (191162)

World war two repayments were completed on the 29 December 2006. Information on the total interest and capital payments for world war two loans in the last 10 years is as follows:

US$ million

USD Lend lease

Line of credit

Capital repayment and interest

Interest on interest repayments

Capital repayment and interest

Interest on interest repayments

1997

18,662,099.35

2,070,876.03

119,336,250.00

13,341,333.95

1998

18,662,099.35

2,070,876.03

119,336,250.00

13,341,333.95

1999

18,662,099.35

2,070,876.03

119,336,250.00

13,341,333.95

2000

18,662,099.35

2,070,876.03

119,402,762.30

13,341,333.95

Total

74,648,397.45

8,283,504.12

477,411,512.30

53,365,335.80

Repayment of deferred capital and annual interest

2001

19,487,914.32

132,677,583.95

2002

20,512,512.37

130,290,858.95

2003

20,112,836.44

127,904,133.95

2004

19,649,191.17

125,517,408.95

2005

19,259,957.51

123,130,683.95

2006

11,455,424.80

71,793,156.44

Total

110,477,836.62

711,313,826.19