18. Captain CROOKSHANKasked the President of the Board of Trade what action it is proposed to take on the Report of the Credit Insurance Committee?
§ Sir P. CUNLIFFE-LISTERThe Government have given careful consideration to the Report of the Credit Insurance Committee, and we propose to accept generally the scheme recommended by the Committee and to put it into force at an 1818 early date. I hope that the simplification of procedure and the larger measure of guarantee offered will be of material assistance to manufacturers and traders. I should like to take this opportunity of thanking the Committee presided over by my hon. and gallant Friend the Member for Ripon (Major Hills) for their valuable work and Report.
§ Sir JOSEPH NALLCan the right hon. Gentleman say what liability this scheme will place on the Exchequer?
§ Sir P. CUNLIFFE-LISTERThere is no increase in the liability on. the Exchequer. I hope, on the recommendations of the Committee, that it will operate, paying its way, as in the past, more effectively.
§ Mr. A. V. ALEXANDERI hope the Government will not exclude any export trade with Russia from the terms of the scheme?
§ Sir P. CUNLIFFE-LISTERThe hon. Member has no right to assume that. The policy of the Government will continue to be what it and its predecessors have followed.
§ Mr. CONNOLLYWill legislation be. required?
§ Sir P. CUNLIFFE-LISTERNo, Sir. The House has already passed the Trade Facilities Bill, which has given us power to carry on export credits for another three years, and a simplification of the scheme can be done by Regulation.