HL Deb 11 October 1999 vol 605 cc51-2WA
Lord Cocks of Hartcliffe

asked Her Majesty's Government:

Whether British contractors are losing the opportunity to secure overseas construction projects and thus promote exports because HM Treasury has been withholding approvals of Export Credit Guarantee Department recommendations and applications over the last six months. [HL4078]

Lord Sainsbury of Turville

British contractors have been gaining opportunities to secure overseas construction projects as a result of the Government's success both in its domestic economic policies and in its contribution to international efforts to enhance the prospects for growth in the world economy.

We have no evidence that they have been losing the opportunity to secure projects in markets where the risks are deemed acceptable as a result of applying for export credit cover. The Government continues to have to balance its desire to promote UK exports with the potential costs to the UK economy of ECGD assuming long-term liabilities.