HC Deb 30 July 1936 vol 315 cc1722-3
79. Mr. KEELING

asked the President of the Board of Trade whether His Majesty's Government have in contemplation any arrangement with the Soviet Government for facilitating the sale of British manufactured goods?

Mr. RUNCIMAN

Yes, Sir. As a result of negotiations with the Soviet trade representative in this country, the Export Credits Guarantee Department, after consultation with their advisory committee, have agreed to provide guarantees in connection with orders to be placed by Soviet import organisations up to a total of £10,000,000 for goods manufactured in the United Kingdom. Copies of the letters exchanged between the general manager of the Export Credits Guarantee Department and the Soviet trade representative will be available as a Command Paper to-day.

Brigadier-General Sir ALFRED KNOX

Can my right hon. Friend state why increased credit facilities are necessary when the Soviet Government had a credit balance of £15,000,000 on trade with this country last year?

Mr. RUNCIMAN

This arrangement puts the Soviet Government in exactly the same position as other governments.

Sir A. KNOX

What does the Soviet Government do with that £15,000,000? Does it carry on propaganda in foreign countries?

Sir PATRICK HANNON

Is any condition embodied in the arrangement with the Soviet Government in relation to existing debts of the Soviet Government to private persons in this country?

Mr. RUNCIMAN

If my hon. Friend will acquaint himself with the contents of the Command Paper which is to be laid, he will see exactly what the conditions are.

Later

Sir WILLIAM DAVISON

On a point of Order. There is no Memorandum or White Paper in the Vote Office relating to the credit of £10,000,000 to the Soviet Government, as stated by the Minister.

Mr. RUNCIMAN

I made the necessary arrangements, and I hoped that they had been fulfilled. If the papers are not there already, they will be very shortly.