§ 66. Mr. Russellasked the President of the Board of Trade approximately what proportion of United Kingdom exports are financed by the importing countries and how much by the Export Credit Guarantee Department.
§ Mr. J. RodgersI regret that I have no information with which to answer the first half of the Question. As regards the second half, the Export Credits Guarantee Department does not normally finance exports, but provides insurance cover against the main payment risks in export trading. The proportion of United Kingdom exports insured by E.C.G.D. was 18.4 per cent. in the financial year ending 31st March, 1960, and 16.0 per cent. in the financial year ending 31st March, 1959.