§ Mr. Parkerasked the Chancellor of the Exchequer what steps are being taken to enable firms which have supplied goods to countries now overrun by the enemy to secure compensation and, in particular, to have cash made available for carrying on their business when it is of national importance?
§ Sir K. WoodHis Majesty's Government have decided that the importance of maintaining the export trade makes it desirable that assistance should be given from public funds to those traders in the United Kingdom, who are unable to obtain payment of debts in respect of goods from enemy countries and countries occupied by the enemy or treated as occupied under the Trading with the Enemy legislation. This assistance will be limited to cases where the non-payment of the debts can be shown to be prejudicing the export trade. The assistance will take the form of advances on the security of the debts of an amount not exceeding44W 50 per cent. of the amount of the debt. In consultation with my right hon. Friend the President of the Board of Trade I have appointed a committee to investigate these cases and to recommend what amount, if any, should be advanced. The committee will consist of Sir Nigel Campbell (Chairman), Mr. F. R. M. de Paula, Mr. Henry Morgan and Mr. G. W. Thomson. The committee will make an announcement as soon as possible on the procedure to be followed by those desiring to make application for advances.