§ 12. Mr. Chichester-Clarkasked the Minister of Public Building and Works what representations he has received from builders about the level of credit available for overseas construction contracts; and what reply he has sent.
§ Mr. MellishI have had meetings with the construction industry about exports, at which references have been made to difficulties in obtaining guaranteed credit for overseas work early enough for tenders to be submitted in time. I have also had one representation from the Royal Institution of Chartered Surveyors about the level of credit available for professional work in certain overseas countries.
These are both matters which my Department is pursuing with the Board of Trade.
§ Mr. Chichester-ClarkIs the Minister aware that recently a very large contract in the West Indies was very nearly lost to a British builder because of the failure of the Bank of England to provide proper credit facilities? What is he doing about that?
§ Mr. MellishThe case to which the hon. Member referred has not been brought to my personal notice. At meetings which I have had with the organisations and professions, a representative of the Export Credits Guarantee Department was present. I can only tell the House what I am advised by these people, and I understand that they are generally satisfied that credit facilities are available.
§ Mr. Frederic HarrisWill the Minister have in mind particularly the contracts which we are carrying out in the underdeveloped countries where this problem is one of paramount importance?
§ Mr. MellishYes, Sir. I note that point. I hope very much that those responsible for giving credit will take that very much into account.