§ 32. Mr. KIRKWOODasked the Secretary to the Overseas Trade Department if he is aware that the Soviet Government are now placing large orders for shipbuilding, and that the Governments of Germany, Italy, Holland and Denmark are granting credit facilities for periods 179 of two or three years to the Russian Government; and whether, in order to capture at least part of these orders, which are computed to amount to some £700,000, the Government will now take steps to grant longer credit facilities for this purpose, and also to reduce the insurance rates to an extent more suitable to the risks undertaken?
§ Lieut.-Colonel COLVILLEI am aware that certain foreign Governments have assisted their shipbuilders to secure orders from the Soviet Government by giving long credits, but I have no information as to the particular orders to which the hon. Member refers and am making inquiries. As regards the second part of the question, I would remind him that facilities under the Export Credits Guarantee Scheme are not at present available for the export of ocean-going ships to any country. The advisory committee are not in any case at present prepared to extend the period of credit.
§ Mr. KIRKWOODThe hon. and gal-land Gentleman says that we cannot get this extended credit for ships. Is there anything to hinder the giving of extended credits for heavy engineering?
§ Lieut.-Colonel COLVILLEThat appears to be a separate question. I have already intimated that the attitude of the Advisory Committee is not favourable to the extension of credits.
§ Sir NICHOLAS GRATTAN-DOYLEWould the hon. and gallant Gentleman see that the Soviet Government carries out its present obligations before any further facilities are granted?
§ Mr. KIRKWOODIs the hon. and gallant Gentleman not aware that India, Australia, New Zealand and Canada have made trade agreements this year with Russia?
§ Lieut.-Colonel COLVILLEThe hon. Member is misinformed.