HC Deb 23 June 1936 vol 313 cc1571-2
17. Sir NICHOLAS GRATTAN-DOYLE

asked the President of the Board of Trade whether, in view of the fact that the United Kingdom is now buying from Brazil annually £1,000,000 more than Brazil buys of the United Kingdom, after the import and export figures have been adjusted to c.i.f. basis in both cases, he will, for the protection of British exporters and holders of defaulted Brazilian public obligations, prepare a scheme for an Anglo-Brazilian exchange clearing?

Mr. RUNCIMAN

My hon. Friend will be aware that the balance of trade, even when adjusted to a c.i.f. basis, does not cover all the items which go to make up the balance of payments between the United Kingdom and Brazil. In view of the wider considerations involved, I do not think that my hon. Friend's suggestion would be likely to achieve the object he has in mind.

Sir N. GRATTAN-DOYLE

Is the right hon. Gentleman satisfied with the balance as it stands?

Mr. RUNCIMAN

I shall never confess to being satisfied.

imports a enamelled wash basins are not recorded separately in the United Kingdom trade returns.

Following is the statement: