HC Deb 09 June 1986 vol 99 c44W
Mr. Gould

asked the Secretary of State for Trade and Industry if he will provide a detailed breakdown of the £80 million loss incurred under the Comprehensive Bank Guarantee (Open Account) scheme.

Mr. Alan Clark

For reasons of commercial confidentiality, it is established practice that the Export Credits Guarantee Department does not make public details of particular transactions it supports. However, losses under the Comprehensive Bank Guarantee (Open Account) scheme are not of the order of magnitude stated.

Mr. Gould

asked the Secretary of State for Trade and Industry if he will publish the details of the agreement reached in or after 1983 between the Export Credits Guarantee Department and the London and Scottish clearing banks on money paid to the banks under the Comprehensive Bank Guarantee (Open Account) Scheme.

Mr. Alan Clark

There has been no general agreement reached between ECGD and the London and Scottish clearing banks on the Comprehensive Bank Guarantee (Open Account) in the period quoted.

Mr. Gould

asked the Secretary of State for Trade and Industry what guidance he has given to banks operating the Comprehensive Bank Guarantee (Open Account) scheme, on which accounts money to be received by the exporters is to be paid into.

Mr. Alan Clark

None. This is a matter between the exporter and his bank.