§ Mr. Madelasked the Minister for Trade what is the level of export credit subsidy in the United Kingdom; and what information he has as to the level in Sweden.
§ Mr. Peter ReesThe Export Credits Guarantee Department operates its credit insurance facilities without cost to public funds. The Department is also responsible for administering the separate arrangements whereby Her Majesty's Government ensure a reasonable rate of return to banks providing finance for extended credit at fixed interest rates on certain export contracts guaranteed by ECGD. The cost of this scheme in 1981–82 was £587 million.
I have no information which is directly comparable about the similar arrangements for fixed interest rate finance operated by the Swedish authorities. Both the total cost of their scheme and the value of exports to which it applies are very much smaller than in the United Kingdom.