Lord Laird – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Lord Laird on 2015-10-29.

To ask Her Majesty’s Government how much they owe the government of the United States for activities in the First World War; what are the repayment arrangements; and when the repayments will be completed.

Lord O’Neill of Gatley

The United Kingdom owed around £850 million to the United States for activities in the First World War. However, in 1931 the United States proposed a temporary moratorium on all War debts, to allow for negotiations on debt repayment. Following negotiations, no satisfactory agreement was reached and as such, repayments were cancelled between the United Kingdom and United States. The last repayment from the United Kingdom to the United States for debt from the First World War was made in the financial year 1932-33.