Military Aircraft (Loans)

WAYS AND MEANS [2nd May] – in the House of Commons at 12:00 am on 3rd May 1966.

Alert me about debates like this

Resolutions reported,

That it is expedient to authorise the Treasury, during the six years ending on 31st March, 1972, to issue out of the Consolidated Fund sums not exceeding in the aggregate four hundred and thirty million pounds, to be applied as appropriations in aid of moneys provided by Parliament for those years for defraying expenditure by the Ministry of Defence and the Ministry of Aviation—
  1. (a) in the purchase from the Government of the United States of America of military aircraft, or parts, equipment or other articles for, or for use in connection with, military aircraft, or
  2. (b) in making payments to that Government in respect of costs incurred by them in connection with any aircraft, equipment or other articles so purchased, including in particular costs of development and testing and of training persons in their operation or maintenance,
so, however, that the sums so issued for any year shall not, in the case of either Ministry, at any date exceed in the aggregate the total amount proposed to be so issued to defray their expenditure on the matters above referred to by the estimates upon which this House has, before that date, resolved to grant sums to Her Majesty to defray such expenditure for that year.
2. That the Treasury be further authorised, for the purpose of providing sums (or any part of sums) to be so issued, or of providing for the replacement of all or any part of sums so issued, to raise money in any manner in which they are authorised to raise money under the National Loans Act 1939 (any securities created and issued for that purpose to be deemed for all purposes to be created and issued under that Act).
3. That provision be made for and with respect to—
  1. (a) the repayment to the Exchequer, out of moneys provided by Parliament for the service of the Ministry of Defence or the Ministry of Aviation, of the sums so issued, together with interest thereon, and
  2. (b) the re-issue out of the Consolidated Fund, and the application, of sums paid into the Exchequer under the preceding subparagraph.

Resolution agreed to.

Bill ordered to be brought in by the Chairman of Ways and Means, Mr. Healey, Mr. Mulley, Mr. Diamond, Mr. Merlyn Rees, and Mr. MacDermot.