11. Mr. H. Wilsonasked the President of the Board of Trade the percentage by which the volume of exports in the third and fourth quarters of 1952 fell below the figures for the corresponding quarters of 1951.
§ Mr. P. ThorneycroftThe volume of United Kingdom exports was, in the third quarter of 1952, 14 per cent. less and, in the fourth quarter, 7 per cent. less than in the corresponding quarters of 1951.
Mr. WilsonIn view of those very grave figures, would the right hon. Gentleman tell the House when he expects that this Government will be able to get the volume of exports back to what we achieved in 1951?
§ Mr. ThorneycroftThere is another factor which I am sure the right hon Gentleman would bear in mind, namely. that our deficits on visible trade were £373 million and £273 million respectively in the third and fourth quarters of 1951, and in the corresponding periods of 1952 they had dropped to £183 million and £134 million.
§ Mr. JayDoes the right hon. Gentleman really seek to correct these deficits simply by restricting imports and not by increasing exports?
§ Mr. ThorneycroftThe right hon. Gentleman should not draw that deduction from my answer; but I think it is right that the full picture of our visible trade position should be borne in mind in this connection.
Mr. WilsonIs the right hon. Gentleman aware that if imports and exports were both cut to nil the deficit would also fall to nil?
§ Mr. ThorneycroftI am also aware that if our visible trade position had continued to deteriorate at the same rate, we should be in a very unfortunate position today.
§ Sir D. RobertsonIs it not obvious from Questions by right hon. and hon. Gentlemen opposite that they fail to realise that the sellers' market has ended and that manufacturers can make goods only against order and not on speculation?
12. Mr. H. Wilsonasked the President of the Board of Trade the percentage of total United Kingdom exports which went to Commonwealth countries in the second half of 1951 and the second half of 1952, respectively.
§ Mr. P. ThorneycroftFifty-four per cent. and 48 per cent. respectively.
Mr. WilsonIs the right hon. Gentleman aware that these figures also represent a most deplorable showing, and in view of the increase in Commonwealth exports ever since the war until last year will he say what are the prospects now of increased exports to the Commonwealth? Also, will he say whether he thinks that the action of Australian secondary goods manufacturers in digging themselves in behind the import barriers will permanently withhold the possibility of us increasing our Commonwealth exports?
§ Mr. ThorneycroftThe Question asked me simply for the percentage, which I have given. It is about the same as it was in the first half of 1951.