§ 71. Mr. KIRKWOODasked 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. GRAHAMI 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. KIRKWOODI would like to ask the President of the Board of Trade if Russia has defaulted in any case?
§ Mr. GRAHAMAs I have previously stated in the House there has been no default so far as Russia is concerned.
§ Mr. C. WILLIAMSHave there been any applications for Russia from Members of the Independent Labour party?
§ Sir WILLIAM LANE MITCHELLHas any other country defaulted more than Russia? [Interruption.] No other country has defaulted more than Russia.
§ Mr. GRAHAMThese are the defaults of individual traders.
§ Mr. HOFFMANIn 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?