§ Mr. Pethick-Lawrence(by Private Notice) asked the Secretary to the Department of Overseas Trade whether his attention has been called to apprehension among exporters in this country of the risk of not being able to obtain payment in sterling in respect of their exports to neutral countries in Europe, and whether the Export Credits Guarantee Department can help in the matter?
§ Mr. R. S. Hudson (Secretary, Overseas Trade Department)Yes, Sir. Generally speaking, the Export Credits Guarantee Department is prepared to continue its existing arrangements for giving guarantees of sterling payment, that is, transfer risks, in respect of exports of United Kingdom goods to most countries in Europe, excluding, of course, enemy territory. The countries in respect of which these facilities will be available, and the amount of the Department's commitments at any time, will be subject to review from week to week. In any case these guarantees will only be available for sales on cash terms or short terms of credit.