HC Deb 28 April 1953 vol 514 c1944
26. Mr. Turner

asked the President of the Board of Trade whether he will direct the Export Credits Guarantee Department to assist United Kingdom merchants further by simplifying their present arrangements in relation to sales overseas of foreign goods.

Mr. Mackeson

Yes, Sir. In order to encourage earnings of foreign currencies it is intended that the Export Credits Guarantee Department shall, as from 1st May, dispense generally with detailed examination of such transactions when merchants, whose trade is 90 per cent. or more in United Kingdom goods, seek cover for their trade in foreign goods. There is, of course, no change in the Government's general policy of refusing cover for transactions which compete with the sale of United Kingdom goods

Mr. Turner

While thanking my hon. Friend for his answer, may I ask him if the change will, in practice, apply to all classes of goods?

Mr. Mackeson

Yes, Sir. The object of the decision is to try to expedite the work of the E.C.G.D.

Mr. Bottomley

Did this change in policy originate with officials within the Department, and has it been supported by the Advisory Committee?

Mr. Mackeson

It has been carefully discussed with the Advisory Committee, other Government Departments and the Exports Credits Guarantee Department.