HC Deb 05 March 1940 vol 358 cc184-5
25. Mr. Liddall

asked the President of the Board of Trade whether he will notify the Brazilian Government that when annual figures disclose that Brazil has bought less of the United Kingdom than the United Kingdom has bought of Brazil, the difference will in future be paid only by Britain with Brazilian Government defaulted bonds, issued in London, valued at the net price received by Brazil from British investors, or, alternatively, that the Brazilian Government should arrange to take forthwith more United Kingdom manufactured exports to balance the annual account?

Sir A. Duncan

As regards the first part of the Question, I have nothing to add to the reply given by my right hon. Friend the Chancellor of the Exchequer to a similar Question on 20th February. As regards the second part, there are considerable invisible items in the balance of payments between Brazil and this country; but my hon. Friend may rest assured that this matter will be closely watched.