§ Mr. Jannerasked the President of the Board of Trade whether he is aware that the Export Credits Guarantee Department is refusing cover for personal trips by business men to the United States of America; and if he will give an assurance that due care is taken to see that such refusals do not mean the curtailment of the dollar drive.
§ Mr. BottomleyThe Export Credits Guarantee Department's facilities in support of the dollar drive insure exporters against loss in respect of well-planned business propositions designed to increase trade with the dollar markets. These propositions involve exporters in financial outlay on specific projects in the hope of future financial return and can consequently be placed on an insurable basis, and an appropriate premium can be charged. Such a basis does not exist in the case of exploratory business trips, which are a normal part -of the ordinary operations of United Kingdom exporters to all countries and the Department does not, therefore, offer specific guarantees to cover the expenditure involved. I do not consider that the absence of guarantees in respect of exploratory trips to the dollar markets in particular will in any way be detrimental to the dollar drive.