§ 62. Mr. LIDDALLasked the Secretary to the Overseas Trade Department, if he is aware that substantial orders can be placed with Lincoln engineering firms by the Russian Government providing further credit facilities are made available; and, in view of the fact that at Lincoln upwards of 6,000, of a working population of 20,000, are now unemployed, will he take steps to provide the necessary credit facilities?
§ Mr. COLVILLEI am aware that the Soviet authorities have expressed their readiness to place certain orders in this country if given the credits which they require. As regards the second part of the question I cannot for the present add anything to the announcement which I made on the 23rd May, that the Export Credits Guarantee Department had been authorised to guarantee further credits for £1,600,000 for trade with Russia.
§ Mr. LIDDALLIn view of the unsatisfactory nature of that reply, I beg to give notice that I shall raise, or I hope to raise, this matter at the earliest opportunity, if possible to-night, on the Adjournment.
§ 63. Mr. CHORLTONasked the Secretary to the Overseas Trade Department if, in view of the large contracts just placed by Russia with Germany under a new trade agreement, he can arrange that manufacturers in this country will have the advantages of a similar agreement?
§ Mr. COLVILLEI have received a translation of an agreement dated 15th June between representatives of German industry and the Soviet Trade Delegation in Germany, setting out the terms on which the latter shall place orders up to 31st May, 1933. The conclusion of a similar agreement between representatives of British industry and the Soviet authorities postulates the guaranteeing by His Majesty's Government of additional credits for trade with Russia, and, as I have already explained, guarantees in excess of £1,600,000 are not available.
§ Mr. LANSBURYWill the Department reconsider the matter, in view of the very large amount of work that is known to be available? Can we be assured that there will be reconsideration?
§ Mr. COLVILLEThe position is under examination by the Advisory Committee. I cannot add more than that at the moment.
§ Mr. CHORLTONDoes the hon. Gentleman know that very large contracts have been placed in Germany, that the American trade has almost disappeared, and will he, if possible, see whether there is not some way of making larger credits possible than are agreed to now?
§ Mr. COLVILLEI cannot add anything to the statement I have already made. The Government are fully aware of the facts, and, as I have stated, the Advisory Committee are considering the position.
§ Mr. DAVID GRENFELLAre the Government prepared to see more and more men thrown out of employment, rather than make arrangements equal to those made by Germany?
§ Mr. COLVILLEIf the guarantee of the Government is used, it must be used with caution.