§ Mr. David PorterTo ask the Secretary of State for Trade and Industry whether any changes will be made to the Export Credits Guarantee Department's cash limit and running cost limit for 1991–92.
§ Mr. LilleySubject to parliamentary approval of the necessary supplementary estimate, the cash limit for class IV vote 4—Export Credits Guarantee Department: administration—will be increased by £2,880,000 from £37,200,000 to £40,080,000 and the running cost limit by £4,257,000 from £30,221,000 to £34,478,000.
The ECGD's running costs are not included in the planning total.
The increase is necessary to meet additional costs which have arisen because of the later than expected date for the privatisation of the short-term credit insurance operation. The necessary legislation in the form of the Export and Investment Guarantees Act received Royal Assent on 22 October 1991.