§ Sir C. Osborneasked the President of the Board of Trade what answers he has given to the British Footwear Manufacturers' Federation's representations for cheaper overdrafts for export purposes; to what extent the bank guarantees can be extended to cover the financing of consignment stocks abroad; what proposals he has for giving extra help to the small exporting firms; and if he will make a statement.
§ Mr. RedheadThe British Footwear Manufacturers' Federation have been told that the possibility of further improvements in export finance is being studied. Bank guarantees were designed to facilitate the provision of finance where goods have been accepted by an overseas buyer; they are not suitable for goods held on consignment before there is a contract of sale. In considering possible ways of further helping exporters, my right hon. Friend will continue to have the needs of small as well as large firms in mind.