§ 53. Mr. Spence
asked the President of the Board of Trade the estimated balances between claims paid and premiums received by the Export Credits Guarantee Scheme, taking into account recoveries and anticipated recoveries, for the period since 1st January, 1952, to the latest convenient date.
§ Mr. Low
The accounting year of the Export Credits Guarantee Department runs from 1st April and, therefore, the figures given are for the three years 1st April, 1952, to 31st March, 1955. The figures for the two schemes operated by the Export Credits Guarantee Department are:
— Credit Insurance Scheme (Guarantees given under Section 1 of the Export Guarantees Act, 1949, with the advice of the Export Guarantees Advisory Council) Special Guarantees Scheme (Guarantees given under Section 2 of the Export Guarantees Act, 1949, without the advice of the Export Guarantees Advisory Council) £ million £ million Claims paid 30.45 1.48 Premiums and recoveries 18.50(a) 1.30 Administrative costs and net interest credited 1.71 0.17 Debit Balance 13.66 0.35 (a) Includes £0.33 million recovered on claims paid in previous years.
It is hoped that further recoveries of £18 million for the Credit Insurance Scheme and £1 million for the Special Guarantees Scheme will eventually be received on claims paid during these years, but further claims will also have to be paid on guarantees given during that period.