§ 43 and 47. Mr. Woodnuttasked the President of the Board of Trade (1) if he is satisfied that guarantees given through the Export Credits Guarantee Department are sufficient to enable United Kingdom shipbuilders to compete in the Argentine market; and if he will make a statement 23W about the order for frigates and minesweepers recently announced by the Government of Argentina;
(2) if he will give details of the credit assistance his Department have offered to J. Samuel White & Co. Ltd., in respect of the Argentine Government order for two frigates.
§ Mr. ErrollI am satisfied that the credit insurance terms offered to exporters of capital goods to Argentina, including shipbuilders, are sufficient to enable them to compete. I am not prepared to make a statement about any business which is under negotiation, since such disclosure would damage the interests of exporters, and might help foreign competitors. It would also prejudice the ability of the Export Credits Guarantee Department to accept the business as an insurable risk.