HC Deb 07 December 1931 vol 260 cc1496-7
18. Major NATHAN

asked the Secretary to the Overseas Trade Department in which countries restrictions on exchange transactions operate to prevent British exporters from receiving payment in England for goods exported to those countries; and whether, with a view to facilitating trade, His Majesty's Government will consider the creation in this country of a clearing office or other appropriate machinery designed to secure that amounts due from British importers to exporters in such countries shall be available for payment of amounts due from importers in those countries to British exporters thereto?

Major COLVILLE

Restrictions of one kind or another have been placed on exchange transactions by the Governments of a number of countries, a, list of which I am circulating in the OFFICIAL REPORT. The extent to which these restrictions tend to prevent British exporters from receiving payments varies greatly between country and country. The whole situation is receiving the very close attention of His Majesty's Government, and the suggestion put forward by any hon. and gallant Friend is among those which are being examined.

Mr. ARTHUR MICHAEL SAMUEL

Is the hon. and gallant Gentleman aware that our efforts to stimulate our export trade are going to be utterly useless, if these restrictions are to be put by foreign countries on payment remittances?

Major COLVILLE

I am aware of the very grave difficulties in this respect which exist at the present time. They are being examined very closely.

Following is the list:

The following are the countries with Government restrictions on exchange transactions:

Austria. Turkey.
Bulgaria. Yugoslavia.
Czechoslovakia. Persia.
Denmark. Angola.
Estonia. Argentina.
Finland. Brazil.
Germany. Chile.
Greece. Colombia.
Hungary. Nicaragua.
Italy. Salvador.
Latvia. Uruguay.
Spain.