31. Captain CAZALETasked the Secretary to the Overseas Trade Department what has been the effect of limiting the Government guarantee for export credits to 12 months; and whether he has sanctioned any further credit to Russia since taking that decision?
§ Major COLVILLEIt is too soon to reply to the first part of the question. As regard the second part, the Export Credits Guarantee Department's Advisory Committee have approved certain guarantees in respect of exports to Russia where the period of credit has not exceeded 12 months.
Captain CAZALETIs it the case that the majority of the credits asked for Russia are for periods longer than 12 months?
§ Major COLVILLEThat is so. The majority of the credits for Russia have been for periods of over 12 months.
§ Mr. ARTHUR MICHAEL SAMUELMay I ask the hon. and gallant Gentleman how recently the advisory committee has reviewed the whole policy of dates in regard to Russian credits?
§ Major COLVILLEThe matter is under constant review at the present time.
§ Mr. LOUIS SMITHCan the hon. and gallant Gentleman say whether any other countries in Europe are increasing the duration of credits?