HC Deb 10 November 1930 vol 244 cc1299-300
42. Mr. DOUGLAS HACKING

asked the Secretary to the Overseas Trade Department whether he will be prepared to place some limit upon the amount of Government risk outstanding at any one time in connection with trading with Russia under the export credits guarantee scheme?

Mr. GILLETT

No, Sir.

Mr. HACKING

In view of the fact that we purchase from Russia at least four times as much as she buys from us, is it really necessary to give unlimited credit to that country?

Sir A. POWNALL

In view of the Lena Goldfields case, could the hon. Gentleman not reconsider this matter, with a view to getting a. more satisfactory solution?

Mr. GILLETT

I answered a question last week on this subject, and I pointed out that the Advisory Committee have all the facts at their disposal, and I am not prepared to make any change in the present policy.

Mr. HACKING

Does the hon. Gentleman agree that Russia has very large credits in this country already?

Mr. GILLETT

Yes, I am aware of it.

49. Mr. A. M. SAMUEL

asked the Secretary to the Overseas Trade Department the average length of the period of credit covered by the guarantees upon the Soviet Government's bills for which His Majesty's Government is liable under the export credits scheme?

Mr. GILLETT

It is not the practice to give particulars of transactions with individual countries.

Mr. MILLS

Cannot the hon. Gentleman give the length of the period; and is he aware of the continued unemployment in the Crayford branch of Messrs. Vickers because a sufficient length of credit time cannot be afforded them—at least 600 men?

Sir P. CUNLIFFE-LISTER

Is not the only reason for not giving particulars of individual transactions to avoid disclosing the details of an individual piece of business; and why cannot the hon. Gentleman give the average length of credit, which cannot possibly disclose any particulars of any individual transaction?

Mr. GILLETT

There is also the point that details given in regard to the treatment of one country might be compared with another. A similar question might be asked in regard to some other country, and the terms might be better or worse.

Mr. SAMUEL

Does it mean that the hon. Gentleman wishes to hide the fact that he is giving better treatment to that country than to other countries?

Mr. GILLETT

The hon. Gentleman is entirely mistaken.