WAR DEBTS

Hokitika Guardian, 5 December 1931, Page 5

WAR DEBTS

fl BRITAIN’S CONCESSION • ■ '• ■ ■ •, .5 V 5 - (British Official Wireiess.) ■ . ’ RUGBY, . Dec. 3. In the House of Commons, the Chancellor of the .Exchequer (Mr Neville Chamberlain),, in the cour.e of an answer on-„th e funding of the Italian V and French Var debts to Britain, stated, that the net aipounts of the Italian and French war debts, at the date of their finding were 560 millions and 600 millions respectively. The sums

k . that were advanced to France and to ' \-Jtaly were, of . course, . borrowed by ’ the British, /Government, h and tlxey constituted part of the British war '-Mebts. The average cost, of ■ borrowing during the war, he said, w’as W Over 50 per cent., itiid, oh this basis, the funding' Agreements represented remission Of .63 per ceilt, of the French wnr. debts and 86 per cent., og the I'talM wßi' ;debts; and the British "taxpayer'had been left to bear an. equivalent" proportion of the charge involved by, these borrowings.