§ Mr. Gryllsasked the Secretary of State for Trade if he will seek powers to make payments by way of compensation to firms which had export credits refused as a consequence of the Government's pay sanctions policy.
§ Mr. John Smith:No. The decisions to refuse export credits were made in the 634W proper exercise of the powers accorded me by the Export Guarantees and Overseas Investment Act 1978—and its predecessor legislation—and I have no intention of seeking powers to compensate firms in relation to the consequences of such decisions.