HC Deb 29 October 1929 vol 231 c13
22. Mr. DOUGLAS HACKING

asked the Secretary to the Overseas Trade Department the number, nature, face value, and the Government's share of the risk of the contracts entered into between exporters of this country and importers of Russia in respect of the Export Credits Guarantee Scheme since the scheme was extended to include that country?

Mr. GILLETT (Secretary, Overseas Trade Department)

Under the Export Credits Guarantee Scheme six contracts of a total face value of £136,270 have been entered into with exporters in this country in respect of exports to Russia. The goods covered by the contracts include coal, machinery, textiles, etc., and the percentage of risk accepted by the Department is 60 per cent.

Mr. W. J. BROWN

Has any part of that risk actually materialised in a loss for which the Department have had to pay the tune?

Mr. GILLETT

No, Sir.

Mr. HACKING

Is it not a fact that there has been no chance yet of that taking place?