§ Mr. A. HENDERSONasked the President of the Board of Trade upon what conditions credits are given under the Board's scheme for long-term credits for exports; what is the total amount of credit granted by the Export Credit Department out of the £26,000,000 allocated to it, and upon what classes of goods, and in what amounts, has such credit been granted; what is the amount of credit granted in respect of exports to each of the areas specified in the announcements of 4th and 25th September, namely: Finland, Baltic Provinces, Latvia, Esthonia, and Lithuania., Poland, Czecho-Slovakia, Jugo-Slavia, and the areas in Russia to which the scheme for insurance against abnormal commercial risks applies; what are the reasons for the exclusion of Austria and Hungary from the scheme, while Czecho-Slovakia, Jugo-Slavia, and Poland are admitted; and whether, in view of their needs, he is prepared to extend the scheme to Austria and Hungary?
§ Mr. BRIDGEMANThe conditions upon which credits are given are stated in a published announcement, dated 25th September, of which I am sending the right hon. Member a copy. The scheme only came into force on the 8th September, and no money has as yet been actually disbursed, but applications for advances to be taken within a specified date have been sanctioned up to a total of about £69,000. Tentative applications also approved, together with other proposals under consideration, represent an additional £978,000. The classes of goods in respect of which applications have already been sanctioned are: Iron and steel goods, cotton piece goods, hardware, haberdashery, cotton yarn, rope, tin-plate. The amounts sanctioned vary from quite small sums up to £45,000. Of the advances sanctioned, £3,771 1s. 11d. are in respect of exports to Finland; £15,394 to Czeoho-Slovakia; and £50,000 to the area to which the scheme applies in Russia. None relates to the Baltic Pro-1940W vinces (Latvia, Esthonia and Lithunia), to Poland, or to Jugo-Slavia. The scheme has been introduced primarily for the purpose of assisting the re-establishment of our own export trade, although His Majesty's Government hope that it will considerably help the rehabilitation of the countries to which it applies. The question of extending the scheme is kept under consideration, but having regard to the limited total sum available it is not thought desirable at the present time to extend it to the enemy countries of Austria and Hungary. I may, however, add that quite apart from this trade scheme, extensive financial assistance has been granted to Austria out of the funds placed at the disposal of the Supreme Economic Council by the Allied Governments. The contribution made by the United Kingdom was, as already explained by the Chancellor of the Exchequer, a sum of £12,500,000 sterling, of which over £3,500,000 were expended on food supplies alone apart from other stores.