§ Mr. Gouldasked the Secretary of State for Trade and Industry if he will institute a departmental investigation into allegations that the Export Credits Guarantee Department has been the victim of substantial fraud; what is the scale of the frauds alleged; what steps he has taken to secure police investigation of these allegations; and if he will make a statement.
§ Mr. ChannonSeveral months ago the Export Credits Guarantee Department asked the City of London police to investigate a number of transactions where apparent irregularities had come to light. Inquiries are in progress and I hope that they will be brought to a swift conclusion. The ECGD is co-operating fully with the police, and will continue to do so on the cases in question and any others which might arise. Action of a legal or other nature must depend on the outcome of the inquiries.