§ Mr. DAYasked the Financial Secretary to the Treasury whether he will state the position to date of any losses made by His Majesty's Government for amounts guaranteed or advanced under the Trade Facilities Acts?
§ Mr. W. S. MORRISONThe total sum issued to date in fulfilment of guarantees under the Trade Facilities Acts is £6,542,962, of which £632,382 has been repaid, leaving a net total of £5,910,580. This figure does not, however, give any real indication of the final loss, since the amounts issued under guarantee constitute secured debts due by the companies concerned to the Treasury and large further sums will be repaid. The amount of the losses definitely known to be irrecoverable is approximately £550,000.