§ 17. and 18. Mr. DICKIEasked the President of the Board of Trade (1) whether he is now in a position to give particulars of the balance of payments 1996 between this country and the Union of Soviet Socialist Republics for the past year;
(2) how much of the payments made by the Union of Soviet Socialist Republics to this country in 1934 represented payment for goods ordered and delivered in previous years?
§ Lieut.-Colonel COLVILLEAccording to a statement furnished by the Trade Delegation of the Soviet Union in accordance with the Anglo-Russian Agreement, the ratio of the Russian Government's payments to their proceeds in 1934 was as 1: 1.05. While some of the items included in the statement have not been finally agreed, this ratio is not likely to be appreciably affected by any possible amendment. Of the total payments, £7,779,000 are stated to represent payments for goods exported and ships delivered prior to 1934.
§ Mr. DICKIEDo these figures relate to the yearly period defined in the agreement, and am I to understand that the ratio is 1 to 1.05 Is it not a fact that the terms of the agreement are being strictly observed?
§ Lieut.-Colonel COLVILLEYes, that is so.
§ 27. Mr. DICKIEasked the Secretary to the Overseas Trade Department the value of orders placed by the Union of Soviet Socialist Republics for goods manufactured in British factories for the first quarter of 1935?
§ Lieut.-Colonel COLVILLEThere are no United Kingdom official statistics regarding the value of orders placed in this country. According to Soviet figures, the orders placed by the Soviet Union in this country during the first quarter of 1935 had a value of £2,738,950 but these are not confined to goods manufactured in the United Kingdom.
§ Mr. DICKIEWithout desiring in any way to minimise the importance of this entrepot trade, may I ask the Minister whether he is satisfied that, under the terms of the agreement, a fair proportion is being observed between oversea orders and the orders placed with British manufacturers?
§ Lieut.-Colonel COLVILLEFrankly, I would like to see a larger proportion of orders for goods manufactured in this country.
§ Mr. H. WILLIAMSCan my hon. and gallant Friend say when he will be in a position to publish a return showing to what extent the ratio agreed on last year was carried out by the Soviet Government?
§ Lieut.-Colonel COLVILLEI dealt with that matter in reply to an earlier question.
§ Mr. THORNEHas the Minister seen the reports published in some papers to the effect that, in consequence of the Germans giving better facilities to Russia, they have gained orders to the extent of £2,000,000 per annum?
§ Lieut.-Colonel COLVILLEI have seen certain reports, but they do not entirely bear out the suggestion of my hon. Friend.
§ Mr. DICKIEIs it not possible to get some reliable information as to whether there is any truth in this report that a very substantial credit loan has been granted by Germany which will naturally result in orders flowing back from Russia into Germanys?
§ Lieut.-Colonel COLVILLEI am having full inquiry made.