§ 50. Sir A. KNOXasked the President of the Board of Trade whether, seeing that in the past 10 years Soviet Russia has been paid cash for all imports to this country, amounting to over £222,000,000, while she has only purchased from this country, largely on credit, goods to the value of under £95,000,000, he will arrange in any future trade negotiations with Soviet Russia, in the interests of the British producer and exporter, some system of barter?
§ Lieut.-Colonel COLVILLEI am not in a position to forecast the lines on 1419 which negotiations with the Union of Socialist Soviet Republics are likely to proceed, but His Majesty's Government have clearly in mind the need for reducing the disparity between the values of imports from and exports to Russia which has prevailed in the past.
§ Sir A. KNOXWill the hon. Gentleman bear in mind the fact that if he does not arrange some system of barter the British exporter will have no chance, because Russia will continue to buy very little of our goods and spend her trade balance in other countries?
§ Lieut.-Colonel COLVILLEThe relevant facts will be all borne in mind.
§ Mr. LAMBERTAre the figures in the question approximately correct?
§ Lieut.-Colonel COLVILLEI cannot accept responsibility for the absolute accuracy of the figures, but they are approximately accurate.
§ Sir A. KNOXHas the hon. Gentleman taken into consideration that these figures are taken from an answer which he gave me 10 days ago in this House?
§ Sir MURDOCH McKENZIE WOODDo the figures include invisible exports and imports?