§ 3. Sir J. D. REESasked the President of the Board of Trade whether he has information to the effect that Messrs. Babcock and Wilcox have made an agreement with certain companies in Spain, one of the features of which is that all plant, machinery, tools, and other materials needed for their engineering works shall be purchased if possible in Great Britain; and, if so, whether this feature can be encouraged and developed to the advantage of British trade?
§ The PRESIDENT of the BOARD of TRADE (Sir Albert Stanley)I understand that an agreement has been concluded between Messrs. Babcock and Wilcox and certain Spanish interests for the creation of a large constructional company in Spain, and that one of the terms of the agreement is that the company should purchase in the United Kingdom all imported materials, plant, etc., provided that equal conditions of quality and price are obtainable.
627 I regard this condition as one of great importance to British trade, and trust that other firms, who may make contracts for industrial enterprise overseas, may see their way to securing the insertion in such agreements of similar provisions.