HC Deb 15 March 1967 vol 743 cc495-6

18. Mr. Carr asked the President of the Board of Trade whether the standard period of Export Credits Guarantee Department credit cover for all major aircraft types has now been extended to 10 years as recommended in the Plowden Report.

Mr. Jay

I would refer the right hon. Member to the Answer I gave to the hon. Member for Woking (Mr. Onslow) on 31st January. The Export Credits Guarantee Department is ready to offer cover on all types of large civil jet aircraft on terms providing for repayment of credit over 10 years from delivery for creditworthy buyers and markets. [Vol. 740, c. 92.]

Mr. Carr

Does that mean that the HS748, for example, is now included in the 10-year credit terms?

Mr. Jay

The HS748 is not included in the 10-year provision, but the provision does include the 1–11, the Trident and the VC10.

Mr. Carr

Does that mean that the HS748 is not regarded as a major air-craft, or that the Government reject the Plowden recommendation?

Mr. Jay

It means that we are willing to carry out the normal matching facilities given by E.C.G.D. in any case where other countries make better offers than we do.