§ 2. Mr. Croninasked the President of the Board of Trade if he will take steps to provide credit facilities extending over a greater period than five years for foreign firms and institutions purchasing capital goods from the United Kingdom, having regard to the increasing competitive disadvantage that British exporters of capital goods are suffering in this respect.
§ Sir D. EcclesBritish exporters of capital goods are not generally under any disadvantage in this respect. If the hon. Member has any particular case in mind, I should be glad if he would let me have the details.
§ Mr CroninIs the right hon. Gentleman aware that in the countries of many of our principal competitors there are specialised institutions for giving longterm credit to such organisations, thus giving them a competitive advantage?
§ Sir D. EcclesSo there is in this country— Section 3 of the Export Guarantees Act, 1957