§ Mr. HANNONasked the Chancellor of the Exchequer (1) the amount of grants made on capital expenditure by the [in-employment Grants Committee in each year since its formation; and the amounts expended on capital account by the Post Office and from the Local Loans Fund and from the Road Fund during the years ended 31st March, 1921, 1922, 1923 and 1924, respectively;
(2) the amounts guaranteeed yearly since their inception by the Trade Facilities Act Advisory Committee and the Export Credits Committee; the number of schemes at present under consideration by the former Committee; and the amount of the. guarantees required for such schemes?
§ Mr. SNOWDENThe figures are as follows:
Unemployment Grants Committee.
Grants in respect of capital expenditure amounting to:
628W
£ 1920–21 (estimate) 1,200,000 1921–22 18,979,107 1922–23 11,059,080 1923–24 20,150,712
Local Loans Fund. Advances by Public Works Loan Board. £ 1920–21 … … … 6,929,793 1921–22 … … … 50,506,088 1922–23 … … … 13,647,162 1923–24 … … … 6,569,486
Road Fund.* £ 1920–21 … … … 981,548 1921–22 … … … 30,010,832 1922–23 … … … 2,500,466 1923–24 … … … 4,158,425 The total expenditure by local authorities, in respect of which the above grants have been allocated, was, approximately, twice the above amounts.
Post Office. 1920–21 … 6,942,732 1921–22 … 7,728,141 1922–23 … 7,309,664 1923–24 … (approximately) 7,825,420 * It is not possible to distinguish in the case of the Road Fund between grants made to schemes financed by local authorities out of revenue and to those financed by means of a loan. But the figures below represent grants indicated for works of new construction (roads and bridges) and do not include grants for works of maintenance and improvement. Export Credits Scheme.
The amounts guaranteed under the Export Credits Scheme since the inception of the Guarantee Scheme are as follows:
£ s. d. 15th July, 1921, to 31st May, 1922 952,556 18 0 1st June, 1922, to 31st May, 1923 2,498,650 10 11 1st June, 1923, to 26th May, 1924 4,610,891 3 11 These figures represent bills actually guaranteed, including renewals. They do not include advances made under the earlier scheme.
The amounts guaranteed on the recommendation of the Trade Facilities Act Advisory Committee are:—
629W
£ In the year ending 9th November, 1922 22,163,645 In the year ending 9th November, 1923 16,042,000 Since 8,000,000 The margin available for further guarantees is thus about £19 millions.
Some fifty applications are, I understand, at present under consideration. No definite figures can be given as to the amount covered by these applications, but it is considerably less than £19 millions.