HC Deb 23 November 1978 vol 958 cc733-4W
Mr. Teddy Taylor

asked the Secretary of State for Trade how many instances there have been in each of the past three years of losses by the Export Credits Guarantee Department because of the failure of firms to deliver goods to foreign customers; and if he will specify the losses involved.

Mr. Meacher

The Export Credits Guarantee Department is not liable for losses caused by failure to deliver goods to foreign customers, unless the insured firm is unable, on demand, to repay export finance in respect of which the Department has issued a guarantee to a bank for the advances in question. In such circumstances, the Department paid sums of £49,000, £26,000 and £161,000 to banks in 1975, 1976 and 1977 respectively: the two firms concerned are now in liquidation and have so far not met the Department's demand for repayment.