§ 12. Miss Wilkinsonasked the President of the Board of Trade whether he can inform the House about the arrangement, recently made with the Japanese Government, providing for the import of 350,000 dozen pairs of stockings and a large quantity of other textiles from Japan?
§ Sir A. DuncanThere has for some years past been an agreement between the British and Japanese hosiery manufacturers for the limitation of exports of Japanese hosiery to the United Kingdom. This agreement was renewed last month and, with the agreement of the British hosiery industry, the import licensing restrictions have since been relaxed so as to allow a limited import of cheap Japanese hosiery of a kind not made here in quantities sufficient to meet the demand.
§ Miss WilkinsonMay I ask the right hon. Gentleman whether, in view of the need for conserving foreign currency and the position in regard to food supplies, he thinks it necessary to arrange for these imports into this country during a time of war?
§ Sir A. DuncanThere is, likewise, of course, the need for export trade and it has been made clear to the Japanese Government that the continuance of this concession must depend upon their attitude towards the admission of British wool hosiery into Japan.
§ Mr. ThorneSurely the right hon. Gentleman is aware that the more trade 1869 we do with Japan, the more they will be able to hammer away at China?
§ Mr. WilmotWould the right hon. Gentleman not agree that the purpose of stimulating exports is to purchase war materials abroad and not stockings?
§ Miss WilkinsonDoes the Minister agree with that? Could we have a Ministerial pronouncement on that subject?
§ Sir A. DuncanIn general, I do agree.