HC Deb 01 March 1934 vol 286 cc1266-7
68. Mr. MABANE

asked the Secretary to the Overseas Trade Department the extent of the losses of the Export Credits Guarantee Department since its inception and the proportion of these losses which are due to losses sustained on credits granted to finance exports to Russia?

Lieut.-Colonel COLVILLE

From the 1st July, 1926, to 31st December last, the claims paid by the Export Credits Guarantee Department, less the sums recovered thereon, amounted to approximately £250,000. This figure does not, of course, represent a loss on the total operations of the Department, as it is more than covered by the premiums received. No claims have arisen in respect of guarantees given in connection with exports to Russia.


Does my hon. and gallant Friend contemplate any modification of the present rates of charge of the Export Credits Department in relation to overseas transactions?

Lieut.-Colonel COLVILLE

On that matter we shall be advised by the Advisory Committee.

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