§ 17. Mr. O'CONNORasked the President of the Board of Trade whether in view of the adverse trade balance which exists between Great Britain and Spain, he proposes to give notice to terminate the existing trade agreement with Spain and to negotiate another which will be more favourable to Great Britain?
§ Mr. RUNCIMANDenunciation of the existing commercial treaty with Spain, which secures various benefits to United Kingdom goods in Spain, is not a necessary preliminary to further commercial negotiations between the two countries. The possibility of initiating such negotiations at a favourable opportunity will be borne in mind, but I cannot at present say how soon such an opportunity is likely to arise.
§ Mr. G. NICHOLSONIs the right hon. Gentleman aware of the grave disability which the coal export trade of this country suffers with regard to trade with Spain?
§ Mr. RUNCIMANThat does not arise out of this question.