Proceeding contribution from Alan Johnson (Labour) in the House of Commons on Wednesday, 15 December 2010. It occurred during Debate on bill and Committee of the Whole House (HC) on Loans to Ireland Bill.
Loans to Ireland Bill
I am grateful for that clarification; we will look at that very carefully. What the Chancellor is saying is that France and Germany, through their IMF contribution—[Interruption.] The Financial Secretary says no. The point I am trying to get at—perhaps the hon. Gentleman can clear this up when he replies to the debate—is that if the UK is putting in a bilateral loan that is equal to the amount that we would have paid as a eurozone member, and we are putting in money through the IMF as well as £2.6 billion through the mechanism, how does that relate to the money that France and Germany are contributing? As far as I am aware, they have no bilateral arrangements, so the money is going through the IMF, or through the stability facility which accounts for only 4% of the resources. That is a point that we need to hear about.
Secondary information
- Type
- Proceeding contribution
- Reference
- 520 c948
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Debts Banks Finance Financial services Government assistance Interest charges Economic situation Euro International Monetary Fund EU grants and loans Parliamentary scrutiny Loans Public finance Republic of Ireland Trade European Central Bank Statutory instruments
- Legislation
- Loans to Ireland Bill 2010-12
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 14:31:02 +0000
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