HC Deb 13 March 1924 vol 170 cc2599-601W

asked the President of the Board of Trade what sums of money have been advanced, or are contemplated to be advanced, to shipbuilding or engineering firms; and for what purposes under the Trade Facilities Act or any other heading?


I have been asked to reply.

(1) No advances are made under Section 1 of the Trade Facilities Act, 1921, as amended by subsequent Acts. If the hon. Member refers to guarantees given by the Treasury, I would refer him to the list of guarantees which the Treasury have expressed a willingness to give as shown in the quarterly returns presented to Parliament.

(2) My hon. Friend the Parliamentary Secretary to the Department of Overseas Trade informs me that as regards the Export Credits scheme no detailed record is readily available as to what sums of money have been advanced or what bills have been guaranteed, or are under contemplation to be guaranteed, specifically to assist shipbuilding or engineering firms. The figures set out below show, however, the advances made in the past, guarantees taken up and guarantees sanctioned but not taken up, in respect of iron and steel manufactures and certain groups of engineering products:

Advances* Guarantees sanctioned and taken up. Guarantees sanctioned but not yet taken up.
£ s. d. £ s. d. £ s. d.
1. Vehicles (Locomotives, Ships, Aircraft). 1,200,359 19 3 500,788 2 5
2. Machinery 49,730 0 1 3,438,545 4 2 97,944 12 0
3. Electrical goods 83,787 15 7
Iron and steel; manufactures thereof. 43,791 5 0 989,466 19 7 1,783,066 15 7
93,521 5 1 5,712,159 18 7 2,387,799 10 0
Total … £8,099,959 8s. 7d.
* Note.—The advances scheme was closed down early in 1921.