§ 6. Sir W. DAVISONasked the Secretary of State for Foreign Affairs whether, having regard to the refusal of the Soviet Government to make any pro- 487 posals for the settlement of claims of British nationals, in accordance with the terms of the Protocol of 3rd October, 1929, unless the British Government first accepts the principle that a debt settlement must be associated with arrangements for a credit or a loan, he will assure the House that no new trade agreement will be entered into with the Soviet Government until definite proposals in this matter have been obtained from that Government?
§ The SECRETARY of STATE for FOREIGN AFFAIRS (Sir John Simon)The policy of His Majesty's Government in this matter remains as stated in the reply which I returned to my hon. Friend on the 10th July last.
§ Sir W. DAVISONCan we be assured that the British Government will not again be prepared to lend money to enable the Soviet Government to buy goods in this country, or to pay the debts of British nationals?
§ Mr. HICKSHave the British Government ever offered any compensation to the Russian Government for the war which was initiated in this country in 1919?
§ Mr. HOLFORD KNIGHTWhile due regard is paid to the proper claims of British nationals, will His Majesty's Government keep in mind the primary importance of stimulating the trade of this country in every possible way?
§ Sir J. SIMONIn reply to my hon. Friends, may I say that I think if they turn to the question to which I referred they will find information on both the points that they raised. In reply to the other hon. Gentleman, I do not think that the point arises out of the question.
§ 18. Sir W. DAVISONasked the Secretary to the Overseas Trade Department what is the outstanding liability of the British Government in respect of export credits to Russia; and at what date will this liability have run off?
§ Lieut.-Colonel J. COLVILLE (Secretary, Overseas Trade Department)In deference to the wishes of the Department's Advisory Committee, it is not 488 customary to state the amount of liability outstanding under the Export Credits Guarantee Scheme in respect of any particular country or individual. But, as neither they nor I wish to withhold information that can properly be given, I may say that up to the end of October the Department had assumed in the aggregate a liability of £12,500,000 in respect of exports to Russia, of which £7,250,000 had then run off. The balance comprised bills of exchange maturing at various dates up to April, 1935.
§ Mr. HANNONHas not the continuance of these credits been of the greatest advantage to certain branches of industry in this country?
§ Mr. T. WILLIAMSIs it not the case that the Russian people have met all their obligations so far?
§ Mr. HERBERT WILLIAMSWhy is it necessary to lend money to Russia when we are buying from Russia 10 times as much as we sell to her?
§ Mr. KNIGHTArising out of the original reply, may I ask whether the hon. and gallant Gentleman is satisfied that these Russian credits do not impose any impediment in the way of the conclusion of a Russian agreement?
§ Lieut.-Colonel COLVILLEAs to the supplementary question of the hon. Member for Don Valley (Mr. T. Williams) there has been no loss under the scheme up to the present time. As regards the future, I think hon. Members must wait.
§ 46. Major-General Sir ALFRED KNOXasked the President of the Board of Trade what was the value of British imports from the Union of Socialist Soviet Republics in the first nine months of this year; and what was the value of exports to that country?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Dr. Burgin)During the first nine months of 1933, the total declared value of the imports into the United Kingdom of merchandise consigned from the Soviet Union amounted to £11,095,000. Exports to the Soviet Union amounted to £3,685,000, including re-exports valued at £900,000.
§ Sir A. KNOXIs it not evident that, if the Soviet can sell as many goods as she 489 cares and buy from us as little as she cares, these negotiations for a treaty will go on for a long time?
§ Dr. BURGINI should have preferred to say that it was the more important to carry on the negotiations to increase the exports to Soviet Russia.
§ Sir A. KNOXSurely, there is no motive for Russia to create any treaty when she has got all that she wants?
§ 49. Mr. T. WILLIAMSasked the President of the Board of Trade whether he has any statement to make on the Anglo-Russian trade negotiations; and when he expects an agreement to be reached?
§ Lieut.-Colonel COLVILLEMy right hon. Friend will make an announcement as soon as the negotiations are completed, but I cannot yet say when that will be.
§ Mr. WILLIAMSAre we to understand from the hon. and gallant Gentleman that the discussions are continuing?
§ Lieut.-Colonel COLVILLEOh yes. Progress is being made, and efforts are being made to reach a conclusion as soon as possible.