§ Mr. MILLSasked the Secretary to the Overseas Trade Department how much of the total amount set aside for export credits guarantee has been utilised; what are the defaulting countries, if any; and whether he has received representations from employers in Dartford, Kent, asking for the extension of this scheme to other countries?
§ Mr. GILLETTOut of the £26,000,000 authorised by Parliament to be outstanding at any time, the amount used or in use on 30th September last was £4,572,602. Default has occurred at one time or another in most of the countries to which goods have been shipped under the scheme. With regard to the last part of the question, I cannot find that any representations by Dartford employers have been made to the Department in regard to the extension of the scheme. I would point out that there is no geographical limit except so far as the exports of textiles for India and the Far East are concerned.
§ Mr. W. BROWNasked the Secretary to the Overseas Trade Department whether guarantees have been given under the Export Credits Guarantee Scheme in respect of exports to Poland, Latvia, Lithuania, Austria, and Jugoslavia; what have been the total amounts of the guarantees in respect of each of these countries, respectively; to what proportion of these guarantees in respect of each country separately have His Majesty's Government had to meet losses under the terms of their guarantee; and what has been the average rate of commission charged for the total guarantees in respect of each country separately?
630W
§ Mr. GILLETTThe answer to the first part of the question is in the affirmative. With my hon. Friend's permission I will circulate in the OFFICIAL REPORT the total amounts of the contracts entered into in respect of the countries specified. It is impossible to say to what proportion of these amounts losses will have to be met, since bills are still running and losses cannot be ascertained until the sums due from defaulters have been recovered or written off as irrecoverable. With regard to the last part of the question it is not considered advisable to disclose the rates of premium charged.
Following are the details:
Export Credits Guarantee Scheme.
Contracts entered into from 1st July, 1926, to 26th October, 1929.
£ Poland 379,139 Latvia 22,126 Lithuania 35,227 Austria 47,637 Jugo Slavia 90,674