A service from mySociety A service from mySociety

TheyWorkForYou

Menu

Oral Answers to Questions — Trade Facilities and Export Credits.

– in the House of Commons at on 16 June 1924.

Alert me about debates like this

Photo of Mr Fredric Wise Mr Fredric Wise , Ilford

58.

asked the Chancellor of the exchequer the total amount, to date, guaranteed under the Trade Facilities Act and the Export Credits Act?

Mr. GRAHAM:

The total amount of loans guaranteed under the Trade Facilities Acts up to the 12th June is £46,164,145; the total amount of Bills guaranteed under the Export Credits Scheme up to the 9th June is £8,223,772.

Photo of Mr Arthur Samuel Mr Arthur Samuel , Farnham

Does the figure of £8,000,000 include, all the guarantees which have been given and have expired, or does it only mean the amount now in operation?

Mr. GRAHAM:

I have no doubt that this is the total sum which has been guaranteed under this scheme.

Photo of Mr Henry Vivian Mr Henry Vivian , Totnes

Does the hon. Gentleman contemplate issuing, in some readily accessible form, a statement showing the results of the various enterprises in which this House is interested through these guarantees?

Mr. GRAHAM:

My hon. Friend must know that under the Trade Facilities Act there is already a regular return, and I should think that on the other point, more or less, there is complete information.

Photo of Mr Henry Vivian Mr Henry Vivian , Totnes

Showing the results as to profit and loss?

Mr. GRAHAM:

As regards the Trade Facilities Act, I think the best reply is that in only one case so far, and that for less than £4,000, has there been any call upon the guarantee, and that is out of a total of £46,000,000 guaranteed.

Photo of Sir William Brass Sir William Brass , Clitheroe

How much has been guaranteed under the present Government?

Mr. GRAHAM:

As regards the Trade Facilities Act, I think I am safe in saying that £7,000,000 or £8,000,000 of guarantees have taken place within recent weeks.

Photo of Mr Daniel Somerville Mr Daniel Somerville , Barrow-in-Furness

Has any guarantee been given for Russian business under this Act?

Photo of Mr Henry Lorimer Mr Henry Lorimer , Derbyshire Southern

Can the right hon. Gentleman say what is the smallest amount which has been offered to one individual firm?

Mr. GRAHAM:

I cannot give that without notice, but if the intention of the question is to turn to the smaller people, I may say that there are many small sums guaranteed of a few thousand pounds.

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.

bills

A proposal for new legislation that is debated by Parliament.