§ Mr. Wyn Roberts
asked the Secretary of State for Trade what subsidies are available in the United Kingdom comparable with the Italian interest subsidies for export credits; and what are the current comparable rates.
§ Mr. Deakins
In the United Kingdom as in Italy special intererst rates are available for export credit. Currently, the United Kingdom rates are a minimum of 7 per cent, for credits of two to five years and a minimum om 7½ per cent, for credits over 5 years. Subject to these minima, 67W our aim is to charge the highest rate the business will bear.
It is difficult to be precise about current rates in Italy but we believe that the comparable rates are generally higher than in the United Kingdom.