§ Mrs. Iris RobinsonTo ask the Chancellor of the Exchequer what assessment he has made of the impact on the competitiveness of the UK aerospace industry of recent changes to the Export Credits Guarantee Department. [53243]
§ Mr. Andrew SmithThe recent changes to the Large Aircraft Sector Understanding (LASU) scheme, under which ECGD provides support for the UK aerospace industry, were made as a result of a 1999 economic study undertaken by ECGD. These changes were delayed to allow time for ECGD to move in concert with its French and German counterparts. The Government are fully committed to supporting in the most effective way possible the competitiveness of all UK companies,932W including those in the aerospace sector, who will constitute some of the major beneficiaries of the new R&D tax credit announced on the Budget.