24. Miss Wardasked the Secretary to the Overseas Trade Department whether in view of the desirability of attracting foreign shipbuilding orders to this country, he will reconsider the position with regard to the granting of export credits to the shipbuilding industry?
§ Captain Euan Wallace (Secretary, Overseas Trade Department)In 1931 His Majesty's Government decided, in view of all the circumstances, and especially the surplus of world tonnage, that the machinery of the Export Credits Guarantee Department should not be used in connection with the export of ocean-going vessels. No such restriction has been applied to smaller vessels and vessels used for special purposes. I am not aware that the position has so materially altered as to call for reconsideration of this policy. Naval craft are excluded by Statute from the operation of the Export Credits Scheme.
Miss WardHas the attention of my right hon. Friend been directed to a recent speech by the chairman of a leading shipbuilding company in this country and will he consider ascertaining the views of shipbuilders in this matter?
§ Captain WallaceMy attention has often been directed to speeches by prominent leaders in the shipbuilding industry, and I do not know to which one the hon. Lady is referring?
Miss WardWhile agreeing with the general principle, why, when there is a shortage of steel, is it possible to have export credits, but when there is a surplus tonnage of shipping it is not?
§ Captain WallaceI think I had better see that question on the Paper.