§ 43. Mr. HACKINGasked the Secretary to the Overseas Trade Department why the limit of five years' credit under the export credits scheme is refused to British exporters to Russia where the importer is the State itself, when it is granted to British exporters to other countries where the importer is only a firm or private individual in the State?
§ Mr. GILLETT (Secretary, Overseas Trade Department)Since the introduction of the present scheme, only one contract involving a five year credit has been entered into. The period of credit for which facilities under the Export Credits Guarantee Scheme are granted is a matter within the discretion of the Advisory Committee, and it is not the practice to give reasons for decisions taken on their recommendations.
§ Mr. MILLSCan the hon. Gentleman give us the number of applications that have been refused during the last six months?
§ Mr. GILLETTPerhaps my hon. Friend will give me notice of that question.
§ Mr. ARTHUR MICHAEL SAMUELWas one of the contracts that has been refused one for 3,000,000 pairs of boots from Northamptonshire footwear firms?
§ Mr. GILLETTI am just going to answer a question of that kind.
§ Mr. GILLETTArgentina.
§ 50. Mr. SMITHERSasked the Secretary to the Overseas Trade Department the total in aggregate of guarantees upon bills of exchange accepted by the Soviet trading organisation since the export credits scheme was opened to Russian trade?
§ 51. Rear-Admiral SUETERasked the Secretary to the Overseas Trade Department the total amount of the British Government's guarantee given to current bills of exchange accepted by the Soviet trading organisation under the export credits scheme?
§ Mr. GILLETTThe aggregate total of bills of exchange accepted by Russian trading organisations and guaranteed under contracts entered into by the Export Credits Guarantee Department since the scheme was extended to Russia was, on 22nd February, £408,270. Under these contracts the Department is liable to guarantee further bills for an appreciable amount. It is not the practice to state the amount current on any particular acceptor or country.
§ Mr. HACKINGWhat is the average length of these credits to Russia?
§ Mr. GILLETTI am afraid I cannot give an exact figure, but they are all short credits.
§ Mr. HACKINGIs that because the Government cannot trust them for long credits?
§ Mr. STRACHEYWhat is the amount of the Russian applications for exports credits since the scheme was extended which have been refused?
§ Mr. GILLETTPerhaps my hon. Friend will give me notice of that question.
§ 53. Sir W. DAVISONasked the Secretary to the Overseas Trade Department by what authority His Majesty's Government has during the past six months guaranteed the credit of foreign Governments other than the Russian Soviet Government; what are the amounts guaranteed in each case; and for what purpose have the guarantees been given?
§ Mr. GILLETTThese guarantees have been given under the export credits guarantee scheme in the normal exercise of the powers conferred upon the Board of Trade by the Overseas Trade Acts, 1920–29. It is not the practice to give figure relating to individual transactions. The guarantees were given in order to assist British exports to obtain finance and carry the risks of the business in question.
§ Sir W. DAVISONCan the House be informed as to the total amount guaranteed to foreign Governments in this connection?
§ Mr. GILLETTIf the hon. Member will give me notice of that question I will try and see if any figures can be given.
Sir GEORGE HAMILTONWill the hon. Gentleman differentiate between the various Governments with which we are in diplomatic relationship?
§ Mr. GILLETTThe Advisory Committee always considers the position of the different countries when any application is being made.
§ Sir A. POWNALLCan the hon. Gentleman say which are the countries?
§ Mr. T. WILLIAMSCan my hon. Friend say whether it was not the case that the last Government always discriminated between every Government?