§ Mr. Snowasked the Chancellor of the Exchequer what low financial charges may be offered in respect of exports by the joint stock banks with his authority.
§ Mr. MacDermotInterest and other charges by the banks are a matter between the banks and their customers, but by agreement, they now charge a fixed 5½ per cent. a year for a wide area of credit guaranteed by E.C.G.D., and negotiations are continuing on the new E.C.G.D. facilities to support short-term 163W export finance at bank rate, as announced by my right hon. Friend the Chancellor of the Exchequer on 27th July.