opportunities for Britain in Greece, and those are considerations which I think weigh very heavily with this Comittee, as to whet progress commercially
we are able to make in these areas. One would have thought that these commercial considerations apply equally to the ownership of proponty end the management of our accommodation affairs in these capitals. Would you
life to say a word about Foreign Office views on that question of house murchase? A. Certainly. We corce very much with you, and indeed there
is a policy for house purchase, and swis are set aside every year for this. We are governed or the PSA who are responsible, ac sovemed by the Treasury's Test Discount Hate on which this Committee has commented frequently.
IR CONAN: The residence hired for the use of the Imbassador, which is termed a sunez residence for the period between lay end October each year, has costs, we were told, so far 3300,000. Over what period is that? Can I refer to D23 where we are informed that the rent for the season just ended
was £4,200, then further on in the document it shows a sun! of rent paid of 2300,000. Is that a mistake? 4. (Hr hon) For the last six months
A.
the rent was 24,203. The 300,000 is Dracha.
4.
In that case why is one figure given in pounds sterling and the other, to confuse us, in Drachme? A. I crunot cusver that.
IR CONLAT: Does the 300,000 relate to rent? MR
CHAIRMAN: If you divide it by 70 you get the rent for this year in pounds. This residence is for use for half the year only. Obviously it would be bozeficial financially to purchase a residence, would it not, apart from this stupid discount rate? A. While you have a continuing need to rent a property it makes sense to buy that property rather than go on paying rent,
but it is subject to the same disability of the Test Discount Rate.
OTATION: On that note I would like to thank you all for coning and giving you: evidence.
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