§ Mr. Sutcliffeasked the Secretary to the Overseas Trade Department whether the export credits system is to be continued; and if credits already approved by Parliament are in any way affected by the outbreak of war?
§ Mr. R. S. HudsonYes, Sir. The facilities provided by the Export Credits Guarantee Department have proved themselves an indispensable part of our export mechanism. The Export Guarantees Advisory Council have, therefore, recommended, and I agree with them, that the Department's guarantees should be continued and I hope used to the utmost possible extent. Accordingly no general increase is, for the present, being made in the Department's rates of premium, though revision may be found necessary later.
With regard to the second part of the question, the Credit Agreements already signed remain in force, though it is possible that the delivery of certain classes of goods under some of these agreements may be affected by war considerations.