HC Deb 03 November 1938 vol 340 c407W
Mr. Anstruther-Gray

asked the President of the Board of Trade whether he will state the values of exports and imports between Britain and the Union of

Declared Value. Proportion carried in vessels of
British Nationality. Soviet Union Nationality.
£'000 Per cent. Per cent.
Imports into the United Kingdom consigned from the Soviet Union. 29,124 16.0 48.6
Exports from the United Kingdom consigned to the Soviet Union—
Produce and manufactures of the United Kingdom. 3,085 4.7 82.0
Imported merchandise 16,420 2.2 55.7

Sir A. Knox

asked the Secretary to the Overseas Trade Department, what is the liability of the Government at the present time owing to the guarantee in July, 1936, of £10,000,000 promissory notes to the Russian trade representative; and when the liability will expire?

Mr. R. S. Hudson

Up to the present date Promissory Notes to the value of £3,770,000 have been guaranteed by the Export Credits Guarantee Department and the total liability, including interest, amounts to £4,725,075. Orders for the full £10,000,000 provided under the Agreement have been placed with United Kingdom manufacturers and further Promissory Notes will be issued when payments for these goods become due. The Department's liability will expire after the last payments of principal and interest which fall due five years after the date of issue of the last Promissory Note.