§ 31. Mr. Hoyleasked the Secretary of State for Trade if he is satisfied with the level of the allocation of £6 million to Iran, guaranteed by ECGD, for the spinning plant to be erected at Rasht in Northern Iran.
§ Mr. DeakinsYes. The British supplier in this case was facing very keen international competition, and I am satisfied that the ECGD cover agreed for this business was necessary to secure this valuable export order. The British textile machinery industry does, of course, depend heavily on exports.