§ 58. Mr. H. G. Williams
asked the President of the Board of Trade whether, in view of the increasing adverse balance of visible trade, he will take steps towards the revision of the trade agreements made with any country with which the adverse balance is now larger than was the case when the agreement was drawn up?
Certain special causes, such as rearmament expenditure and Government purchases of supplies, have operated to swell the adverse balance of visible trade; none the less, this balance was smaller last month than a year earlier. In the circumstances, I do not consider that any attempt at a wholesale revision of the trade agreements is called for, though the position in relation to particular countries is constantly watched.
§ Mr. Williams
Is not the increase in the adverse balance of trade entirely with foreign countries, and not with Empire countries; and can we do something with those foreign countries?
I hope to deal with this matter in the Debate later. As a matter 1033 of fact, the increase in the adverse balance of trade is entirely with one foreign country.