HC Deb 24 November 1920 vol 135 cc463-4W

asked the Parliamentary Secretary to the Overseas Trade Department whether in the export credit system credits are guaranteed by the British Government, at the Bank of England, up to 100 per cent, of the value of the goods exported, to such countries as Poland and Czecho-Slovokia; whether a similar arrangement could be arrived at, whereby credits are guaranteed to the Australasian banks, by the British Government, on goods exported from this country to Australia; whether he is aware that several important export orders are being cancelled or suspended for several months; and whether, in view of the great necessity of increasing exports, he will take steps to interview the managers of these banks in order to put the export trade to Australia, and other of our Colonies, on at least a sounder footing as to some of the European States?


The Export Credits Department makes advances in approved cases in respect of consignments of British manufactured goods exported to certain European countries where industrial and financial conditions have been disorganised by the War. The scheme could not be made applicable to Australia, without an Amendment of the Overseas Trade (Credits and Insurance) Act. I am fully aware of the serious effects on our export trade with Australia resulting from the difficulty of securing remittances, and I am considering whether action can usefully be taken on the lines suggested by the hon. Member in the last part of the question.

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