§ 14. Major DESPENCER-ROBERTSONasked the President of the Board of Trade whether he is aware that some British firms are losing orders from Holland owing to the fact that Dutch firms can buy the same goods from Germany and pay for them in sperrmarks which can be bought in Holland at about 20 per cent. below parity; and whether he can take any steps to protect our firms from this unfair competition?
§ Lieut.-Colonel J. COLVILLE (Secretary, Overseas Trade Department)Sperrmarks can be bought at a discount as against Reichsmarks owing to the fact that they are blocked under the German exchange regulations, and can be used only for the purchase of goods which are regarded as additional exports from Germany. The difficulty arises in connection 150 with the existing exchange restrictions and, as my hon. and gallant Friend is aware, the United Kingdom Delegation at the World Conference are pressing that exchange restrictions should be abolished as rapidly as possible.