HC Deb 29 April 1970 vol 800 cc1234-5
16. Mr. Cant

asked the President of the Board of Trade what use has been made of the Export Credits Guarantee Department's buyer credit facilities announced in May, 1969.

Mrs. Gwyneth Dunwoody

At the time of the announcement it was estimated that in 1969 export contracts supported by buyer credit facilities might amount to £100 million. In fact, the total reached £103 million relating to 14 contracts by the end of the year and now stands at £134 million.

Mr. Cant

Do those figures include lines of credit?

Mrs. Dunwoody

No, Sir. In addition to the figures I have given, 16 lines of credit have been guaranteed by E.C.G.D. over the same period, which covers lines of £102 million.

Mr. Grant

Is the Minister aware that there is considerable criticism of the export credit guarantee scheme, particularly about the bureaucratic delays in getting the guarantee, among our businessmen in the Far East? They say that this puts them at a grave disadvantage compared with the quick procedure of the Japanese and Australians. Is the Minister considering this? What does she propose to do about it?

Mrs. Dunwoody

I am not aware of any such criticism. If the hon. Gentleman would like to bring me evidence, I will certainly look at it. The department is run on purely commercial lines, and it has been remarkably successful over a period of years.