§ 71. Mr. MANDERasked the Secretary to the Overseas Trade Department for what reasons the guarantee for export credits is 8 per cent. in this country as against 1 or 2 per cent. in Germany and Italy so far as Russian trade is concerned; and if he will consider altering our export credits system so that our charges may be comparable with those of other countries?
§ Mr. GILLETT (Secretary, Overseas Trade Department)For Russia, as for other countries, premiums charged under the Export Credits Guarantee Scheme are not fixed, but vary from ease to case and from time to time. I am not aware of the manner in which the rates of premium charged in Germany and Italy for guarantees in connection with Russion business, are fixed, but in this country they are assessed by the Advisory Committee, and I do not propose to modify the existing practice.
§ Mr. MANDERWill not the hon. Gentleman take steps to see that business men in this country are in at least as good a position as their competitors in Germany and Italy?
§ Mr. GILLETTI am not quite certain that the hon. Member's figures are quite up-to-date.
Sir N. G RATTAN-DOYLEWill the hon. Gentleman take steps to convey to the Financial Secretary the information that he has just given to the House?
§ Sir WILLIAM DAVISONAre the Soviet Government themselves giving credits for cheap coal?
§ Mr. HAYCOCKHas the Department yet lost one brass farthing through guaranteeing credits to Russia?