HC Deb 21 April 1921 vol 140 cc2059-60
28. Mr. STEVENS

asked the Prime Minister whether the Government has adopted any policy which will enable the production of commodities for export to be normally continued at prices which will at least provide a living wage to the workpeople without entailing loss to the employer or to the country; if so, what is that policy; and, if the Government have no such policy, has he formulated any plan of action which will materially assist our export merchants to renew their normal trade?

46. Sir S. BENN

asked the Prime Minister what steps, if any, are being taken at the moment by the Government in order to get some unified action by the Allies in the late War for the purpose of reconstructing the trade of Europe?

The PRIME MINISTER

This subject was under consideration at the Brussels Financial Conference, upon whose recommendations it was transferred to the charge of the Advisory Economic and Finance Committee of the League of Nations, a Committee which is preparing the material for a general Economic and Financial Conference which it is intended shall be held in due course. The matter will also come within the scope of the forthcoming Conference in Italy, which is to endeavour to improve the economic relations between the Succession States, Austria and Italy. As my hon. Friend is doubtless aware, the League of Nations have adopted, and are arranging to give effect to, a scheme commonly known as the Ter Meulen Scheme, for affording credit to countries in need of financial assistance, and His Majesty's Government and the French, Italian, and Japan- ese Governments have recently intimated their willingness, on certain conditions, to postpone their liens on Austrian State assets, to enable Austria to benefit by this scheme. The British Exports Credits Scheme, the details of which are generally known, should also contribute materially to the development of international trade.

Lord R. CECIL

Have the other Powers that have a lien upon Austrian finance also agreed to postpone their debt?

Mr. STEVENS

Were the United States of America, which are concerned in these matters, officially represented at the Conference, and was this country officially represented there?

The PRIME MINISTER

I am not sure about the other Powers. They were not at the Conference, but I do not think that there will be any difficulty in getting them to assent. I hope that arrangements are being made for that, because I agree with my Noble Friend that it is desirable that they should be associated with any proposal of this kind. I am not quite sure whether the United States of America were represented there or what the decision of their Government is

Sir H. BRITTAIN

Can the right hon. Gentleman give the approximate date when these decisions are likely to become operative?

The PRIME MINISTER

indicated dissent.