HC Deb 10 December 1929 vol 233 cc231-2
58. Sir F. HALL

asked the President of the Board of Trade what is the total amount of trade credit given to Russia by this country since the setting up of the Soviet system of Government; and what is the total amount of British exports to Russia and of Russian imports into this country during the same period?

Mr. W. GRAHAM

As the answer is long, I propose, with the hon. Member's permission, to circulate it in the OFFICIAL REPORT.

Sir WILLIAM DAVISON

Is it not the fact that there is still a large trade balance, amounting to many millions in favour of the Soviet Government in this country?

Mr. GRAHAM

I would invite the hon. Member to wait until he has seen the detailed terms of this reply.

Sir F. HALL

Has the right hon. Gentleman's attention been drawn to the statement made by Lord Parmoor in another place in which he indicated that every penny had been paid by Russia, which was, he said, different from any other country; and does the right hon. Gentleman think that that is a fair way to criticise other counries?

Following is the answer:

As regards the first part of the question, although I am aware that credits have been granted by certain private firms doing business with the Soviet Union, I have no information as to their amount. As to the credits granted under the Export Credits Guarantee Scheme, which has been applied to the Soviet Union as from 1st August last, I would refer the hon. and gallant Member to the reply by my hon. Friend the Secretary of the Department of Overseas Trade on this subject yesterday to the hon. and gallant Member for Banff (Major Wood).

As regards the second part of the question, the United Kingdom trade statistics do not distinguish trade with the Soviet Union, as distinct from the territory of the former Russian Empire, until 1921.

The total figures for the period January 1921, to September 1929, are as follows:

£
Imports from the Soviet Union 149,202,688
Exports of British Domestic produce and manufactures to the Soviet Union 34,177,006
Re-exports consigned to the Soviet Union 42,807,270