§ 43. Mr. SMITHERSasked the Secretary to the Overseas Trade Department what is the present liability of the British Government with regard to credits on account of Russia?
§ Lieut.-Colonel COLVILLEIt has not been the practice to state the exact amount of liability outstanding under the Export Credits Guarantee Scheme in respect of any particular country or individual. But I may say that of the total liability of about £12,000,000 assumed by the Department in connection with exports to Russia, some £5,000,000 has already run off.
§ Mr. SMITHERSMay I ask whether, in view of recent events, and the suspension of negotiations for a trade agreement, the Government will refuse all further credits until these prisoners are released?
§ Lieut.-Colonel COLVILLEI can only say that that must depend on events.
§ Mr. T. WILLIAMSCan the hon. Gentleman say how much profit has been made out of these transactions?
§ Lieut.-Colonel COLVILLENot with-out notice.
§ Sir ARTHUR MICHAEL SAMUELWill adequate reserves be set up in the Export Credits Fund to meet the inevitable economic breakdown?
§ Lieut.-Colonel COLVILLEA premium is charged on all such transactions.