§ 34. Mr. SMITHERS
asked the Secretary to the Overseas Trade Department whether, in view of the fact that British imports from Russia for the last three years total £82,250,000 and British exports to Russia £13,250,000, he will withhold the grant of further facilities under the Export Credits Scheme till this reservoir of credit is used up?
§ Mr. SMITHERS
Arising out of that very short answer, may I ask why the Government continue to give unnecessary credits to Russia?
§ Sir H. CROFT
Is it not a fact that this vast balance is being used in order to purchase goods in other countries—in the United States and elsewhere—and what is the advantage to this country?
§ 37. Sir WILLIAM DAVISON
asked the Secretary to the Overseas Trade Department what special advantages Great Britain has obtained by reason of the trade agreement entered into with Russia by the present Government as compared with the United States of America, who have no trade agreement with Russia; and whether the direct exports from Great Britain to Russia have been greater than the exports from the United States to Russia during the period since the trade agreement has been operative?
§ Mr. SMITH
With regard to the first part of the question, the Soviet Government have frequently stated that in future their policy will be to deal as far as possible only with those countries with whom some form of Trade Agreement exists? The concrete advantage resulting from the Trade Agreement is an increase in exports of United Kingdom produce and manufactures during the eight months ending 31st December, 1930, as compared with the eight months ending 31st December, 1929. With regard to the second part of the question, exports from the United States were greater than those from the United Kingdom. But during the period of seven months ending 30th November, 1930, as compared with the similar period in 1929, exports from the United States decreased by 6 per cent., whereas exports from the United Kingdom increased by 96 per cent.
§ Sir W. DAVISON
Can the hon. Gentleman give the figures for the exports from the United States and from this country?