§ Mr. Viggersasked the Secretary of State for Trade if he will estimate the total amount of commitments to be entered into by the Export Credits Guarantee Department during the period January 1977 to November 1977 giving (a) the total estimated commitment, (b) the commitments entered into in pursuance of commercial transactions and (c) the commitments entered into in pursuance of transactions authorised in the national interest.
§ Mr. MeacherIt is very difficult to estimate with precision the future level of ECGD's commitments, not least since in past years the growth of commitments has been irregular. However, approximate estimates for (a) ECGD's total commitments, (b) commitments under Section l—commercial transactions—and (c) 823W commitments under Section 2—national interest transactions—of the Export Guarantees Act 1975 at the end of November 1977 as compared with the position at the end of December 1976 are:—
The figures of total commitments include commitments other than those under Sections 1 and 2 of the Export Guarantees Act 1975. In addition, it is particularly difficult to forecast the impact on these figures of ECGD's foreign currency commitments being taken under a separate SDR limit.
Estimated commitments at end November 1977 £ million (a) Total … … … 23,050 (b) Section 1 … … … 13,650 (c) Section 2 … … … 6,550 Commitments at 31st December 1976 £ million (a) Total … … … 17,142 (b) Section 1 … … … 10,327 (c) Section 2 … … … 4,785
§ Mr. Viggersasked the Secretary of State for Trade what is the total amount of current commitments through the Export Credits Guarantee Department which have been entered into in pursuance of commercial transactions in circumstances which would have caused them to fall within Section 1 of the Export Guarantees Act 1968 or Section 1 of the Export Credit Amendment Act 1975.
§ Mr. MeacherAs at 31st December 1976 ECGD's commitments under Section 1 of the Export Guarantees Act 1975 amounted to £10,327 million. This figure had risen to approximately £10,600 million on 27th January 1977.
§ Mr. Viggersasked the Secretary of State for Trade if he will list as fully as conveniently possible during each of the months from January 1975 to January 1977 the total amount of commitments by the Export Credits Guarantee Department (a) entered into in pursuance of commercial transactions and (b) entered into in pursuance of transactions authorised in the national interest.
§ Mr. MeacherThe monthly growth of commitments under guarantees given by ECGD under (a) Section 1—commercial transactions—and (b) Section 2— 824W national interest transactions—of the Export Guarantees Act 1975 was
January 1977 figures are not, of course, yet available, but at 27th January 1977 they had risen to approximately £10,600 million (Section 1) and £4,900 million (Section 2).
£ million (a) Sec 1 (b) Sec 2 1975— January … … 5,986 2,612 February … … 6,099 2,619 March … … 6,211 2,623 April … … 6,362 2,625 May … … 6,611 2,626 June … … 6,810 2,629 July … … 6,981 2,656 August … … 7,157 2,683 September … … 7,343 2,716 October … … 7,387 2,787 November … … 7,438 2,855 December … … 7,493 2,960 (a) Sec 1 (b) Sec 2 1976— January … … 7,897 3,111 February … … 8,231 3,303 March … … 8,534 3,461 April … … 8,743 3,554 May … … 8,956 3,693 June … … 9,246 3,709 July … … 9,437 3,731 August … … 9,649 3,762 September … … 9,875 3,778 October … … 9,984 4,057 November … … 10,105 4,396 December … … 10,327 4,785
§ Mr. Viggersasked the Secretary of State for Trade what is the total amount of current commitments entered into by the Export Credits Guarantee Department in pursuance of transactions authorised in the national interest such that they would have fallen under Section 2 of the Export Guarantees Act 1968 or Section 1 of the Export Guarantees Amendment Act 1975 under the category of transactions authorised in the national interest.
§ Mr. MeacherAs at 31st December 1976 ECGD's commitments under Section 2 of the Export Guarantees Act 1975 amounted to £4,785 million. This figure had risen to approximately £4,900 million on 27th January 1977.