§ 71. Major GLYNasked the Chancellor of the Exchequer the total liability of the Treasury concerning loans authorised at home for unemployment grants, etc., for assisting development of the 1678 Dominions and Colonies, and in aid of trade credits in foreign countries, respectively?
§ The CHANCELLOR of the EXCHEQUER (Mr. Philip Snowden)The capitalised present value of state liabilities outstanding in respect of loans for unemployment works is approximately £36,500,000. The liability in respect of loans, guaranteed loans or grants approved for assisting development of the Dominions, Colonies, etc. is approximately £14,000,000. I regret that there are no figures available for trade credits, which are properly comparable with those given above. The total liabilities assumed by the Export Credits Guarantee Department since July, 1926, in connection with exports to foreign countries have been about £13,000,000 and in connection with exports to the Dominions and Colonies about £1,250,000; but the hon. Member will understand that these are short term liabilities of which the greater part have already run off.