§ 4. Mr. LOUIS SMITHasked the President of the Board of Trade whether, now 223 that sanctions against Italy have been raised, he can state the aggregate estimated cost to this country in loss of trade?
§ Mr. RUNCIMANNo, Sir. In the seven months December, 1935, to June, 1936, United Kingdom exports to Italy (including re-exports) were valued at £482,000, as compared with £6,181,000 for the seven months December, 1934, to June, 1935; but it is not possible to attribute the whole of this decline to sanctions. Owing to payment difficulties and Italian import restrictions, United Kingdom exports to Italy were declining before sanctions were imposed. It is not possible to form any estimate of the effect on our trade with other countries.
§ Mr. SMITHWould it not be true to say that British traders have borne the greater burden due to sanctions than those of any other countries who are members of the League?
§ Mr. RUNCIMANI could not answer that question without having information with regard to the other nations.
§ Mr. T. WILLIAMSCan the right hon. Gentleman give any idea of what the cost of armaments is likely to be now that sanctions have been proved to be ineffective?
§ Lieut.-Colonel ACLAND - TROYTEHave the special privileges with regard to Czechoslovakia been removed?
§ Mr. RUNCIMANThat is a separate question.