HC Deb 03 August 1926 vol 198 cc2775-7
2. Mr. J. HUDSON

asked the President of the Board of Trade whether his Department will take steps under the Trade Facilities Acts, the revised Export Credits Scheme, or otherwise by which there may be facilitated, the placing of orders in Great Britain by the Russian Commission now in this country, and empowered to purchase electrical equipment to the value of £2,500,000 for Russian electrical power stations?

Mr. A. M. SAMUEL (Secretary, Overseas Trade Department)

The answer is in the negative. The policy of His Majesty's Government towards credits for transactions with the Soviet Government, which was very fully explained to the House on the 10th March by my right hon. Friend the President of the Board of. Trade, remains unchanged.

Mr. HUDSON

May I ask whether the hon. Gentleman is aware that there is still in this country a Commission with quite definite powers to place orders for machinery, and that this machinery is made by an industry which at the present time is suffering very severely from unemployment?

Mr. SAMUEL

That may be so; but the hon. Gentleman is wider an entire misapprehension of the position. There is no reason whatever why manufacturers of machinery should not take orders from the Soviet. Commission, if they care to do so. There is nothing to prevent them.

Sir FREDRIC WISE

How much of the £75,000,000 has been allotted?

Mr. SAMUEL

I do not recall to what sum my hon. Friend refers.

Sir F. WISE

The Trade Facilities money

Mr. SAMUEL

That question should be addressed to the Chancellor of the Exchequer. It does not come under my Department.

Mr. TAYLOR

Is the hon. Gentleman aware that the reason why British manufacturers cannot give extended credits like their competitors on the Continent is the uncertainty of the Government's policy?

Mr. SAMUEL

I totally disagree with that view.

Mr. T. WILLIAMS

Is the hon. Gentleman aware that foreigners are issuing loans in this country to which millions of pounds are being subscribed, and that thereby Continental governments can give these credits to Russia?

Mr. SAMUEL

No, Sir, and I think the hon. Gentleman also is under a misapprehension if he imagines that foreign governments are giving these millions of pounds of credits to Russia.

Commander WILLIAMS

Would it not he better for the Government to encourage trade facilities within our own Empire?