§ Mr. Campbell-Savours
To ask the Secretary of State for Foreign and Commonwealth Affairs what is his estimate of the amount of aid and trade provision funds which are spent after allocation within the United Kingdom for every £1 allocated on British contracts under ATP.
§ Mrs. Chalker
Assuming that an ATP grant is associated with an export credit guaranteed by the Export Credits Guarantee Department in the ratio 35:65—the minimum level of concessionality allowed under international rules—each £1 of ATP expenditure would be associated with £2.85 worth of contracts for British exporters. This figure does not include any follow-up business.