Mr. Alexanderasked the Secretary to the Overseas Trade Department whether he is aware of the reluctance of exporters to send their goods to countries which may become involved in the war; and whether further protection could be afforded to traders against these risks?
§ Mr. ShakespeareThe Export Credits Guarantee Department have, on the instructions of my right hon. Friend the President of the Board of Trade, been actively considering the situation created by war conditions and the question of extending the transfer cover at present available to exporters. It has now been decided to make important extensions of the existing facilities. With few exceptions the proportion of transfer risk guarantee will be raised from 75 per cent. to 90 per cent., and catastrophe such as war or invasion will be expressly covered. Fuller details of the new facilities, which have been discussed with the Export Council, can be obtained from the Export Credits Guarantee Department, who are issuing a notice on the subject for publication.