§ 46. Mr. SMITHERSasked the President of the Board of Trade whether, in making arrangements for a new trade agreement with the Soviet Government, it is the policy of His Majesty's Government not to grant any further credits 1232 while Russia has a favourable trade balance with this country?
§ Lieut.-Colonel COLVILLEMy hon. Friend will appreciate that while negotiations for a new trade agreement are proceeding it is not possible to make any statement on the subject.
§ Mr. SMITHERSMay I ask what possible justification there can be to give credits to a country that has a favourable trade balance?
§ Lieut.-Colonel COLVILLEThe hon. Member must not expect me to say anything more during the progress of negotiations. I will remind him that the question of the trade balance with Russia has been very prominently before His Majesty's Government, and, in point of fact, last year it improved very greatly from any previous year.
§ Mr. SMITHERSWill the Government take note of the fundamental axioms of ordinary business?
§ Mr. THORNEIs it not a fact that the Argentine balance is worse than the Russian balance?