HC Deb 10 March 1936 vol 309 c1947
24. Captain A. GRAHAM

asked the President of the Board of Trade what method he is devising in order to assist those business firms who are at present suffering severe financial embarrassment through sterling debts not having been yet paid to them by the Anglo-Italian clearing for goods shipped early last year by Italian importers, although these debts have been already paid by the Italian importers into the clearing?

Mr. RUNCIMAN

His Majesty's Government cannot undertake to ask Parliament to provide funds for the grant of financial assistance to firms with outstanding debts due from Italy. The question of the provision of exchange for payment of any trade debts due to the United Kingdom which cannot in existing circumstances be liquidated through the machinery of the Anglo-Italian Payments Agreement of 27th April, 1935, will, however, be taken up with the Italian Government at the first favourable Opportunity.

Mr. PETHERICK

Is my right hon. Friend aware of the extremely unsatisfactory position in which firms who were owed money by Italians prior to March last are placed? They come last on the list, and those who come under the sterling agreement get prior treatment against their competitors?

Mr. RUNCIMAN

That matter is under review at the present moment.

Sir PATRICK HANNON

When will the right hon. Gentleman make representations to the Italian Government on this important subject?