§ Mr. Bessell
asked the Chancellor of the Exchequer whether, in view of the limited use which was made by exporters during the year 1966–67 of the Export Credits Guarantee Department's bank guarantee facilities, he will now reconsider the 39W formation of a British Export Bank to provide non recourse export finance; and if he will make a statement.
§ Mr. Harold Lever
I do not consider that the use made by exporters during 1966–67 of the Export Credits Guarantee Department's Bank guarantee facilities, in any way justifies the formation of a British Export Bank, or that such a Bank40W is necessary to provide non-recourse finance for exporters. The facilities already offered by E.C.G.D. compare favourably with those offered by other major exporting countries, including those with export banks, and within the existing framework we are constantly making further improvements, some of which will help with problems of recourse.