§ 37. Mr. W. GREENWOODasked the Chancellor of the Exchequer if he will take steps to amend the Trade Facilities Act so that its provisions may apply to the granting of credits for expenditure other than of a capital nature where such expenditure will help employment?
§ Mr. SNOWDENThe limitation to expenditure of a capital nature was embodied in the Trade Facilities Act deliberately and with general assent, and I am not prepared to adopt the hon. Member's suggestion, the effect of which on balance would be to make more difficult the problem of unemployment.
§ Mr. GREENWOODIs it not a fact that last night, on a Vote, Scotland received the concession for which I am now asking?
§ Mr. A. M. SAMUELIs it not the fact that the facilities for which the hon. Gentleman the Member for Stockport (Mr. W. Greenwood) is asking can be obtained if he applies to the Export Credits Committee?
§ Mr. SNOWDENI believe that is so. I think the case to which the hon. Gentleman refers is precisely the case which will be considered, as suggested by the hon. Gentleman the Member for Farnham (Mr. A. M. Samuel)—although I am not very familiar with it.
§ Mr. GREENWOODIs the right hon. Gentleman aware that the replacement of nets for the Scottish fishing industry was arranged for last night on the Vote of this House?
§ Mr. SNOWDENThe hon. Gentleman is evidently under a misapprehension; the guarantee is to be considered by the Exports Credits Committee, and was not under an Estimate.