§ 15. Captain R. TERRELLasked the Parliamentary Secretary to the Overseas Trade Department, if many cases have been brought to his notice, more especially in British Colonies and Dominions, of the loss to British trade of contracts obtained by foreign competitors who benefit by the rate of exchange?
§ Mr. KELLAWAYMy attention has been called to a number of cases in which contracts have been lost by British trade to foreign competitors who benefit by the rate of exchange. The great majority of these cases relate to foreign markets, and, so far as the Dominions and Colonies are concerned, I have not as yet received any definite information of important contracts for competitive goods having been lost to foreign competitors on account of the level of the exchanges. As, however, I indicated in my reply to the hon. Member for the Keighley Division on the 22nd February, it would be unwise to assume that European competition in Empire markets will not be more severe in the near future.
Sir F. HALLIs the right hon. Gentle-aware that the President of the Board of Trade intimated on the reassembling of Parliament that the Government would bring in a Bill to deal with the exchange system and what has been done in that matter?
§ Mr. KELLAWAYThere was a reply given to that question yesterday.