HC Deb 27 July 1926 vol 198 cc1882-3
1. Mr. HANNON

asked the President of the Board of Trade the number of instances in which guarantees under the export credit scheme have been approved for British contracts in Poland during the past 12 months; what is the total amount of guarantees approved by his Department for Polish credits up to date; if he is aware that the economic condition of Poland has undergone substantial improvement during the present year; and whether any special steps are being taken to promote the expansion of British trade in that country?

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

Seventy-four bills in respect of fourteen transactions relating to Poland have been guaranteed during the twelve months ending 26th June last. The total amount of guarantees approved by the Export Credits Department for Polish credits up to date is nearly £1,200,000, of which about £600,000 has been taken up. As regards the last part of the question the Com- mercial Secretary at Warsaw reported recently that the economic outlook in Poland is more hopeful. His Majesty's Minister and the Commercial Secretary keep the Department of Overseas Trade continually informed as to the possibilities of trade with that country.

Mr. HANNON

In view of the fact that the economic position of Poland is steadily improving, will applications for credits in respect of that country be considered?

Mr. SAMUEL

I am very glad to hear that Poland's economic position is improving. If so, we shall be very glad to do all the business with Poland that we can.

Lieut. - Commander KENWORTHY

Are we to understand that there has been any reluctance on the part of the Committee to grant credits to this very important country?

Mr. SAMUEL

The Committee examines the proposals put before them, and use their discretion as to whether or not they are suitable for public money.

Lieut. - Commander KENWORTHY

Has there been any reluctance in regard to this particular country?

Mr. SAMUEL

Not that I know.

Mr. TAYLOR

Can the hon. Gentleman say whether any loss has been incurred in granting facilities in respect to Poland?

Mr. SAMUEL

I cannot say that without notice.

Mr. BOOTHBY

Is it not a fact that the condition of Poland to-day is such that any investment there is highly speculative?