HC Deb 14 February 1956 vol 548 cc2148-9
15. Mr. Russell

asked the President of the Board of Trade why exports to foreign countries increased by only 10 per cent. in value in 1955 compared with 1954, Whereas imports increased by 22 per cent.; and if he will make a statement.

25. Mr. Gower

asked the President of the Board of Trade what circumstances resulted in a much greater increase in imports than in exports during 1955; and if he will make a statement.

Mr. P. Thorneycroft

The basic reason is that excessive home demand has checked our exports and swollen our imports.

Mr. Russell

Is my right hon. Friend satified that the measures which have been taken will stop that process say this month or next?

Mr. Thorneycroft

I think there are indications that the measures which have been taken are beginning to work in the economy.

Mr. Gower

Is my right hon. Friend considering the possibility of any special incentives, fiscal or otherwise, to encourage those who develop the export markets?

Mr. Thorneycroft

The subject of whether we should or should not have export subsidies has been debated in this House on a number of occasions. The policy of Her Majesty's Government remains as stated, that we are opposed to export subsidies in this or any other country.

Mr. Jay

Can the President say what are the indications that the situation is improving?

Mr. Thorneycroft

Not in the course of Question and Answer.