HC Deb 05 July 1971 vol 820 c240W
55. Mr. Wall

asked the Secretary of State for Trade and Industry what action is proposed to insure British investments abroad against political risks such as nationalisation or expropriation.

Mr. John Davies

The Government's decision to introduce a scheme for insuring new British investment overseas against the political risks of expropriation, war damage and restrictions on remittances was announced in the White Paper "British Private Investment in Developing Countries" (Cmnd. 4656) published in April, 1971. Legislation to enable the Export Credits Guarantee Department to introduce the scheme will be brought before Parliament as soon as possible.