§ 23. Mr. MILLSasked the Secretary of State for Foreign Affairs if he will state the occasions when defaults have arisen in connection with any guarantee respecting trade with Russia; and how this compares with any other country similarly quoted for risks?
§ Mr. GILLETTIf my hon. Friend refers to the Export Credits Guarantee Scheme, I may say that none of the Soviet bills guaranteed under that scheme has been dishonoured. There have been defaults on bills drawn on importers in other countries.
§ 26. Mr. HACKINGasked the Secretary to the Overseas Trade Department whether he will state the reason why the 1650 rate of premium has been increased by approximately 50 per cent. by the export credits department in connection with Soviet risks?
§ Mr. GILLETTFor Russia, as for other countries, the rate continually fluctuates and varies from ease to case and from time to time. I regret that I am unable to give reasons for any fluctuations that may occur in the case of either Russia or any other country.
§ Mr. HACKINGDoes the hon. Gentleman agree that what is stated in my question is correct, and that there has been this increase?
§ Mr. GILLETTNo; I cannot be assumed to agree with anything that the right hon. Gentleman has stated.
§ Mr. HACKINGWill the hon. Gentleman deny that what I have stated is correct?
§ Mr. GILLETTAs I have informed the right hon. Gentleman, it is very undesirable to discuss these details.