HC Deb 26 March 1953 vol 513 cc826-8
35. Mr. Jay

asked the President of the Board of Trade whether his attention has been called to the further downward trend of United Kingdom exports in January and February; and what action he proposes to take to arrest this decline.

Mr. P. Thorneycroft

Although the monthly average of our exports for January and February, 1953, was £206 million compared with the figure of £213 million to which they had risen in the fourth quarter of 1952, no reliable inferences can be made, as the right hon. Gentleman well knows, about the trend of exports from figures for such a short period. The Government are doing all they can to help our exporters in the considerable efforts they are making to overcome the difficulties of selling our goods in world markets.

Mr. Jay

Are not the Government a little complacent about this matter? As the President has just made large relaxations of control of imports, and as there is no sign of the recovery of exports or, indeed, of any reciprocal concessions by any other countries, how does he think that he is going to achieve the export surplus which the Chancellor of the Exchequer said he was going to achieve?

Mr. Thorneycroft

I do not think that the Government can be accused of complacency in this matter. The steps taken by the Chancellor of the Exchequer to put our internal economy in order are necessary if we are to be able to make a satisfactory export drive.

Mr. Nabarro

Is it not a fact that it is desirable to balance our overseas payments, if necessary at a slightly lower figure than last year, rather than have a vast turnover and a heavy trading loss in the shape of an adverse balance on overseas trading?

Mr. Thorneycroft

I agree with my hon. Friend that it certainly is necessary to balance it.

Mr. Jay

Is the President of the Board of Trade encouraged by the fact that ever since the Chancellor of the Exchequer took the steps to which he refers, exports have in fact fallen?

Mr. Thorneycroft

I am very much encouraged by the fact that our overseas balance, which was in such a disastrous condition 15 months ago, is now in very much more satisfactory shape.

Mr. Gaitskell

Is the right hon. Gentleman not well aware that the improvement in the trade balance is entirely due to changes on the import side?

Mr. Thorneycroft

I am not aware that it is entirely due to changes on the import side. I am quite satisfied that the means taken by my right hon. Friend played a very large and integral part in achieving this state of affairs.