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Canada (Balance Of Trade)

Volume 722: debated on Tuesday 14 December 1965

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asked the Chancellor of the Exchequer what estimate he has made of the gold and dollar liability which Great Britain has incurred in respect of her adverse balance of trade with Canada over the past five years.

The adverse balance of visible trade between the United Kingdom and Canada in the period 1960–64 amounted to £768 million. The hon. Member will, of course, realise that visible trade is only one element in our transactions with Canada.

Does not the right hon. Gentleman realise that this is a most serious deficit and that there are still impediments to our trade with Canada? Would he say what steps he is taking to reduce this serious drain on our resources?

Yes, I agree. A number of efforts are being made, including visits by a number of commercial counsellors and attachés in Canada to this country under the general name of "Canextour". They have been visiting hundreds of firms here to make them more interested in exporting to Canada.