§ 60. Sir BASIL PETOasked the Financial Secretary to the Treasury whether he will, for the purpose of securing for Northampton the order for 3,000,000 pairs of footwear from the Soviet delegation, suggest to them that they should, if they have not already done so, take steps to raise a loan on their own credit in the City of London, to be current for the period required to enable them to make the purchase, and based on the security of Soviet exports of raw materials earmarked for the loan?
§ The FINANCIAL SECRETARY to the TREASURY (Mr. Pethick-Lawrence)I do not think that it would be appropriate for His Majesty's Government to offer suggestions to the Soviet Government as to the method of financing particular transactions in this country.
§ Sir B. PETOIs the hon. Gentleman aware that boots and shoes wear out in the course of a single year, and therefore that any financial arrangements beyond that period are not in the nature of a proper commercial transaction?