§ 40. Mr. Emrys Hughesasked the President of the Board of Trade what estimate he has made as to how far the regulations affecting Egyptian deposits in British banks will reduce exports to, and imports from, Egypt.
§ The President of the Board of Trade (Mr. Peter Thorneycroft)None, Sir. But the effect of these controls will clearly be to reduce trade.
§ Mr. HughesDoes the right hon. Gentleman mean to say that these restrictions were imposed without any conception of what they mean to British trade? Is it the case that, after hearing all this Session about the need for increasing our exports, we now appear to be indifferent, and can the right hon. Gentleman tell us how the Scottish whisky exporters who do trade with Egypt are going to get the trade?
§ Mr. ThorneycroftI think the House generally will recognise that these controls are necessary in existing circumstances.
§ 48. Mr. Emrys Hughesasked the President of the Board of Trade what steps he proposes to take to increase our exports to Egypt.
§ Mr. P. ThorneycroftNone, Sir.
§ Mr. HughesIs the Minister aware that Egypt is a valuable market and that, while we all agree that arms should not be sent to Egypt, it is essential that we should help to solve our own trade problem by increasing exports to this country?
§ Mr. ThorneycroftIt would be an illusion to think that our principal preoccupation at the present time is an expansion of trade with Egypt.