EXPORT CREDITS
AMENDING LEGISLATION IN BRITAIN NEW CONDITIONS RELATING TO MUNITIONS. MAKING HEAD AGAINST. FOREIGN SUBSIDIES. (Received This Day, 11.3& a.m.) (British Official Wireless.) RUGBY, December 9. Among important provisions in the new Expert Guarantees Bill, one lessens the effect of restrictions on credit facilities to firms exporting munitions. Under the present Act, which governs the-operations of the Export Credits Department, facilities can be given for goods not being munitions of war. The wording in the new Bill is: “Provided no guarantee shall be given in connection with weapons of war or other goods which, in the opinion of the Board of Trade, are constructed or intended for destructive use in war.” No such restriction is mentioned in the clause which governs the giving of guarantees in the national interest.
The maximum amount of the Board of Trade’s liability under this heading is ten millions sterling. In view of the number ofapplications from British traders for- export credits for goods which compete with subsidised foreign goods, the new facilities provided for are regarded by the Press as important.
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Wairarapa Times-Age, 10 December 1938, Page 8
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178EXPORT CREDITS Wairarapa Times-Age, 10 December 1938, Page 8
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