§ Mr. Amessasked the Secretary of State for Trade and Industry what proportion of those applying for a loan under the loan guarantee scheme have failed to repay the loan; for what reasons; and what is the total amount that the Government as guarantor have been asked to pay.
§ Mr. TrippierAt 31 May 1984 the Department had paid out on 2,267 claims under the guarantee arrangements at a total value of £57.4 million. This represents 14.9 per cent. of the 15,253 guarantees issued at that date. Detailed information on the reasons for the inability of borrowers to repay the loans is not available. The cost of the claims is offset by income of £13.6 million from premiums and recoveries.