HC Deb 21 July 1936 vol 315 cc222-3
4. Mr. LOUIS SMITH

asked the President of the Board of Trade whether, now that sanctions against Italy have been raised, he can state the aggregate estimated cost to this country in loss of trade?

Mr. RUNCIMAN

No, 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. SMITH

Would 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. RUNCIMAN

I could not answer that question without having information with regard to the other nations.

Mr. T. WILLIAMS

Can 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 - TROYTE

Have the special privileges with regard to Czechoslovakia been removed?

Mr. RUNCIMAN

That is a separate question.