§ Mr. Shersbyasked the Secretary of State for Trade what is the extent of overdue payments to the Export Credits Guarantee Department which the Department believes may be incapable of collection.
§ Mr. DeakinsAt 31st March 1974 payments overdue to ECGD from policyholders and not expected to be recoverable amounted to £558,040.
At the same date claims under examination in respect of payments overdue to policyholders from their customers amounted to £21.5 million. No estimate can yet be made of the amount for which the Department will become liable which will subsequently prove to be irrecoverable.
§ Mr. Shersbyasked the Secretary of State for Trade if he will set out in the OFFICIAL REPORT the extent of outstanding loans, bad debts and the profit or loss showing on the accounts of the Export Credits Guarantee Department for each of the last 15 years for which figures are available.
§ Mr. DeakinsThis information is included in the Annual Appropriation and Trading Accounts of the Export Credits Guarantee Department, copies of which are available in the Library.
For the period 1958–59 to 30th April 1970 outstanding loans are shown in the Annual Accounts of the Acquisition of Guaranteed Securities Fund appended to the Appropriation Accounts for Export Credits (Special Guarantees, &c). Thereafter the information is contained in the Notes to the Accounts for Export Credits (Special Guarantees &c).
The Notes to the Annual Appropriation Accounts for Export Credits and Export Credits (Special Guarantees &c.) show the amounts written off as bad debts. The profit or loss for the Credit Insurance and Special Guarantees Schemes is represented by the balance carried forward to the balance sheet as shown in the annual trading accounts and balance sheets for the two schemes.