ALLIED WAR DEBTS
FRANCE AND ITALY. SUBSTANTIAL BRITISH REMISSIONS. VBIUTXSB OFFICIAL WIRELESS.) Received December 4th, 5.5 p.m.) RUGBY, December 3. In the course of an answer in the House of Commons on the funding of the Italian, and French war debts to Great Britain, the Chancellor of the Exchequer, Mr Neville Chamberlain, said the net amounts of the Italian and French war debts at the date of funding were £560,000,000' and £600,000,000 respectively. The sums advanced to France and Italy were of course borrowed by the British Government and constitute a part of the British war debts. The average cost ct borrowing during the war was over 5 per cent., and on this basis the funding agreements represent a remission of 63 per cent, of the French war debt and 86 per cent, of the Italian war debt and the British taxpayer has been lett to bear the equivalent nroportion of the charge involved by these borrowlugs.
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Press, Volume LXVII, Issue 20412, 5 December 1931, Page 15
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157ALLIED WAR DEBTS Press, Volume LXVII, Issue 20412, 5 December 1931, Page 15
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