§ 83. Mr. R. A. TAYLORasked the Financial Secretary to the Treasury the present amount of the Exchequer liability in respect of loans guaranteed under the Trade Facilities Acts and the loss to date?
§ Mr. PETHICK-LAWRENCEThe present amount of the Exchequer liability in respect of loans guaranteed under the Trade Facilities Acts is approximately £64,789,000. The losses to date amount to approximately £690,000.
§ Mr. TAYLORCan my hon. Friend say whether he anticipates that there will be any very serious loss on the outstanding amount?
§ Mr. PETHICK-LAWRENCEI cannot possibly say. I hope there will not be any loss.
§ 84. Mr. TAYLORasked the Financial Secretary to the Treasury the total amount guaranteed by the Treasury under the Trade Facilities Acts, showing separately the amount in respect of loans used to finance the export of British goods and the amount in respect of guarantees for capital expenditure in Great Britain?
§ Mr. PETHICK-LAWRENCEThe total loans guaranteed under the Trade Facilities Acts amounted to £72,253,767, as set out in House of Commons Paper No. 95 of 1929. In the second part of the question I presume the hon. Member refers to the guarantees given to Empire and foreign undertakings in respect 2364 of loans to be utilised for the purchase of goods manufactured in Great Britain. These guarantees totalled £20,340,906; and the balance of £51,912,86[...] may be taken as applied to capital expenditure in Great Britain.
§ Mr. TAYLORMay I ask whether it is the intention of the Government to provide similar facilities for long-term credits for capital expenditure abroad may be provided so that work may be provided for the factories of this country?
§ Mr. PETHICK-LAWRENCEMy hon. Friend no doubt remembers that the Trade Facilities Act expired in March, 1927. If he is asking for fresh legislation on the subject he must give me notice of any such question.
§ Mr. MILLSWill the Financial Secretary remember the lines and the tone of the Debate last night when hon. Members of all parties were agreed on the necessity of circulating to a11 the great industrialists and chambers of commerce the advisability of making up—