Former MP for Colne Valley
The amount of interest payable on loans made in foreign currency varies from year to year. It amounted to nearly £29,000,000 last year, but is reduced to about £15,000,000 this year and next year as a result of President Hoover's plan. The reply to the second part of the question is in the affirmative, and to the last part in the negative.
It includes the debt to America.
There has been no change in the position in regard to the Ottoman 'Guaranteed Loan of 1855, other than that referred to in the reply given to the right hon. and gallant Member on 1st May, 1929; the interest on the loan is payable in sterling.
I am always willing to take advantage of every opportunity if there is a prospect of relief to the British Exchequer.
In the calendar year 1930 the payments made by the Government in foreign currency, excluding the War Debt to the United States Government, amounted to about £16,000,000 and the Government's receipts in foreign currency, excluding reparations and inter-governmental War Debts, to about £24,500,000; the surplus of foreign receipts over foreign payments (excluding War Debts, etc.) thus amounted...
I made this statement in the course of the discussion in Committee a day or two ago, but I will repeat it now. With regard to the first part of the question, Entertainments Duty will be charged at the rates at present in force on any payments for admission to entertainments made before 9th November next irrespective of whether the entertainments take place before that date or not; the answer...
The answer to the first part of the question is in the affirmative. The views of the committee in regard to the second part are sufficiently indicated by the fact that, like the Geddes Committee, they did not submit any minutes of evidence along with their report. The answer to the last part of the question is in the negative.
The figure in question was arrived at on the lines laid down on page 78 of their report by the Colwyn Committee on National Debt and Taxation except that no account was taken of Legacy and Succession Duties. The statistics compiled in relation to the Surtax refer to total income and do not distinguish earned from investment income.
