HC Deb 04 June 1998 vol 313 cc321-2W
Helen Jones

To ask the President of the Board of Trade what has been the response to the ECGD's consultation paper, Finance for UK Capital Goods and Project Exports; and what action the Government propose. [44791]

Mrs. Beckett

ECGD has received an excellent response from the UK exporting and financial community to its Consultation Paper. The Minister for Trade will be leading discussions which ECGD will be having with banks and exporters to consider the various suggestions made. The focus will be on ways of enhancing exporter competitiveness and improving the cost-effectiveness of ECGD interest rate support. This work will inevitably take several months and extend beyond the scheduled 30 June expiry date of ECGD's current support facility, the Fixed Rate Export Finance scheme. Therefore, to ensure continuity of service to exporters and banks while this work is being undertaken, the Government have decided to extend the validity of the current scheme for six months until 31 December 1998.