HC Deb 28 January 2002 vol 379 c74W
Matthew Taylor

To ask the Secretary of State for Trade and Industry, pursuant to her answer of 18 January 2001,Official Report, column 508W, on departmental expenditure, if she will state the calculation by which she reached her answer; and if she will make a statement. [30291]

Ms Hewitt

For each loan refinanced, ECGD calculates the savings generated by the reduction in the guaranteed return paid to the lending banks and the savings generated by using HMG funding as compared to alternative fixed funding over the life of the loan. The figure of £75 million represents the sum of these savings for all cases refinanced in this way up to 31 March 2001.