§ 53. Mr. HARDIEasked the Chancellor of the Exchequer whether he will bring 219 before the House for confirmation all transactions of the Trade Facilities Committee, or any arrangement for subsidy to industries?
§ Mr. CHURCHILLAs regards Trade Facilities the conditions under which the Treasury may give guarantees, the total limit to such guarantees and the period within which they may be given are ail prescribed by Statute, while succeeding Governments have undertaken to abide by the undertaking given at the time of the passing of the Trade Facilities Act, namely, that in granting guarantees they will follow the advice of the independent Trade Facilities Act Advisory Committee. Guarantees given are regularly reported to Parliament but to introduce a further stage of confirmation by Parliament is impracticable as a matter of machinery and would defeat the purpose of the scheme. As regards the latter part of the question, the Government could not make any arrangement for subsidy to industries without Parliamentary authority.