§ 29. Mr. Croninasked the Chancellor of the Exchequer if he will take action to enable foreign purchasers of British goods to obtain export credit facilities in the United Kingdom at special rates.
§ Mr. H. BrookeNo, Sir. Credits for the purchase of British goods can only be made available at commercial rates of interest.
§ Mr. CroninIs the right hon. Gentleman aware that, as a result of his Department's policy of high interest rates, credit facilities are much cheaper in the financial institutions of our competitors and there is danger of our losing not only the export credit business but also the export trade which depends on that credit?
§ Mr. BrookeBritish exporters can give foreign buyers on their own account what credit they think necessary. The hon. Member's suggestion is much more far-reaching, and I must inform him that it would not be possible.