§ Mr. Tom Kingasked the Secretary of State for Trade what discussions he has held with the Export Credits Guarantee Department about the provision for loss of guarantees for exporting firms; and if he will make a statement outlining what conditions apply to such provision.
§ Mr. DeakinsECGD issues a range of guarantees which protect exporters against losses arising from the major risks of non payment. It can also assist exporters by giving unconditional guarantees to United Kingdom banks which bring forward finance at preferential rates. In view of their importance to exporters, ECGD facilities are kept under constant review, and on 18th December my right hon. Friend announced to Parliament a number of improvements in ECGD's facilities and procedures.