§ 71. Mr. KIRKWOOD
asked the President of the Board of Trade whether any defaults have yet occurred in any payments under the Exports Credits Scheme; and, if so, in what countries?
§ Mr. W. GRAHAM
I presume my hon. Friend refers to defaults in payment by acceptors of bills guaranteed under the Export Credits Scheme. The answer to the first part of the question is in the affirmative. I regret that it is undesirable to state the names of the countries 766 concerned; some default has, however, occurred in most of the countries to which goods have been shipped under the scheme since its inception in July, 1926.
§ Mr. KIRKWOOD
I would like to ask the President of the Board of Trade if Russia has defaulted in any case?
§ Mr. GRAHAM
As I have previously stated in the House there has been no default so far as Russia is concerned.
§ Mr. C. WILLIAMS
Have there been any applications for Russia from Members of the Independent Labour party?
§ Sir WILLIAM LANE MITCHELL
Has any other country defaulted more than Russia? [Interruption.] No other country has defaulted more than Russia.
§ Mr. HOFFMAN
In view of the fact that there have been no defaults on the part of Russia, is that not a reason for the lowering of the insurance premiums?