§ 5. Captain Peter Macdonaldasked the President of the Board of Trade whether he is aware that the excess of imports into this country over exports from this country reached a total of £432,000,000 for the past year; whether, in view of the fact that a large part of the raw materials now being imported are being used in connection with the rearmament programme and not for manufacturing goods that will subsequently be exported, he is satisfied that the balance of trade is not being endangered; and whether he can make a statement upon the subject?
Mr. StanleyThe answer to the first part of the question is in the affirmative. I do not consider that the position need cause anxiety, but the subject is hardly capable of discussion by way of question and answer. An article will be published shortly in the Board of Trade journal, which will contain a statistical examination of the relevant facts.