§ 58. Mr. H. Hyndasked the President of the Board of Trade whether, in view of the successful negotiation of a barter arrangement to permit the export of jet aeroplanes to Brazil in exchange for raw cotton, he will encourage a similar barter trade to enable British manufacturers of textile machinery to export to Brazil and 104W thus relieve the serious unemployment now prevailing in that industry.
§ 60. Mr. Errollasked the President of the Board of Trade whether he will make a further statement defining the Government's policy on barter deals now that the raw cotton and Meteor aircraft barter deal with Brazil has been completed with full Government approval.
§ Mr. MackesonThe Government's general view remains as was stated on a number of occasions towards the end of last year—namely, that we do not think that barter and compensation deals will provide a solution to our problems. We do not, therefore, wish to encourage resort to them. On the other hand so long as there is no breach of import or export regulations or of exchange control requirements, there is no legal objection to barter deals and no question of Government intervention arises.
§ 61. Mr. Errollasked the President of the Board of Trade what reduction in the Brazilian liabilities of the Export Credit Guarantees department will accrue from the raw cotton and Meteor aircraft barter contract which has just been completed.
§ Mr. MackesonNo reduction in the Brazilian liabilities of the Exports Credits Guarantee Department will accrue from the raw cotton and Meteor aircraft barter contract which has just been completed.