§ Sir H. Williamsasked the President of the Board of Trade if he will now make a statement about the prospects for our exports to Spain, as a result of the Anglo-Spanish trade negotiations which were recently concluded at Madrid.
§ Mr. P. ThorneycroftYes. I am glad to inform the House that we have secured a satisfactory agreement with Spain as a result of these negotiations. A programme of imports into Spain, including substantial quantities of coal, chemicals, petroleum products and capital equipment has been agreed. It has also been arranged that imports into Spain of so-called "less essential" goods from the United Kingdom will be licensed each quarter on a sliding scale based on Spain's actual sterling receipts during the immediately preceding quarter. These arrangements will, I hope, improve the prospects of United Kingdom exporters to the Spanish market.