§ Commander BELLAIRSasked the Secretary to the Overseas Trade Department how much the Department is liable for in the way of insurance given to importers to Russia, and how does the rate of insurance charged by the Export Credit Department compare with the rates charged by insurance companies for insuring goods sold to Russia?
§ Mr. GILLETTIt is not the practice to state the current liability of the Export Credits Guarantee Department in respect of exports to any particular country. So far as I am aware, British insurance companies do not at present provide to any considerable extent1446W facilities of the kind available under the Department's scheme in connection with exports to Russia.
§ Commander BELLAIRSasked the Secretary to the Overseas Trade Department, with reference to export credits for Russia, for how much the British Government are directly liable to Russia; for how long a period or periods is credit given; how is it divided; whether there is included in the credits any floating loan; and, if so, for how long and how much?
§ Mr. GILLETTThe Export Credits Guarantee Department has no liability whatever to Russia. The guarantees given by the Department insure the payment to exporters of British goods of a proportion of the credits allowed by them to purchasers overseas. The period of credit covered by such guarantees varies with each transaction, as also does the proportion for which the Department is liable, but the latter in no case exceeds 75 per cent. The answer to the fourth part of the question is in the negative, and the last part does not therefore arise.