§ Mr. ALEXANDER RAMSAYasked the President of the Board of Trade whether his attention has been drawn to the difficulties created for British exporters in obtaining payment for goods by the existing Austrian and Hungarian regulations regarding the acquisition of foreign exchange; and whether he can give any information regarding the arrangement made by the Austrian Government with the Hungarian Government under which the proceeds of Hungarian sales in Austria are ear-marked for the payment of Austrian exporters to Hungary?
§ Major COLVILLEThe answer to the first part of the question is in the affirmative. As regards the second part, an arrangement by which a proportion of the estimated amount by which Hungarian exports to Austria exceeded Austrian exports to Hungary was to be placed at the disposal of the Austrian creditors has broken down owing to technical difficulties in its application. I understand, however, that an agreement in principle for setting up clearing machinery to facilitate mutual payments 1027W has just been reached. Details of this arrangement are not yet available.
§ Mr. RAMSAYasked the President of the Board of Trade if he is aware that Austrian and Hungarian exports to this country are greater than this country's exports to Austria and Hungary; whether His Majesty's representatives in Vienna and Budapest have been instructed to endeavour to negotiate with the Austrian and Hungarian Governments a system by which the sterling credits acquired on this aide by the exporters of those countries should be earmarked for the payment of British exporters to Austria and Hungary; and, if so, what reports have been received on the subject from His Majesty's representatives?
§ Major COLVILLEThe answer to the first part of the question is in the affirmative. The effect of currency restrictions in Austria and Hungary is engaging the continuous attention of His Majesty's Government with a view to deciding whether any action can usefully be taken.