§ 8. Mr. Peter Viggers (Gosport)What real return on capital employed is required of the Export Credits Guarantee Department. [25552]
§ Mr. ViggersI find that reply rather baffling. Is the Minister aware that other nations run their export credit as a facility for exporters, whereas the Export Credits Guarantee Department is run as a profit centre and is 424 expected to make a 6 per cent. return on capital employed? Is he aware that there is a widespread feeling that our exporters—especially small and medium enterprises—are disadvantaged because of this? Is he concerned about that? What is he going to do about it?
§ Nigel GriffithsThe facts are these: last year saw the largest amount of supported business in this area for a decade. We backed more than 100 UK exporters and investors to the tune of £5.6 billion, securing tens of thousands of jobs here. In the light of that record last year, we will take no lessons from Conservative Members.
§ Mr. Andy Reed (Loughborough)Is the Minister aware that there is great disquiet about the transparency of the export credits guarantee scheme; in particular the decision to allow an export to Tanzania before Christmas, which came under great scrutiny in the media? However, there has been little chance for Members of this House to scrutinise the decision here. Where there is criticism of particular export credit guarantees, will my hon. Friend take steps to ensure that we are able to discuss those and to press home the case that sometimes they are not in the best interests of the country concerned?
§ Nigel GriffithsI am not sure if my hon. Friend is referring to the Tanzania air traffic control project.
§ Nigel GriffithsHe is. I can tell the House that it receives no ECG support, nor is it seeking it.