§ Mr. Hal Millerasked the Secretary of State for Industry whether he will make a statement about the future of the exchange risk guarantee scheme under which the Government provide exchange risk cover on loans to United Kingdom companies from the European Investment Bank and the European Coal and Steel Community.
§ Mr. Norman LamontYes. The Government have now completed their review of the scheme and have decided that it should continue for a further two years to 31 December 1983 subject to a ceiling on new borrowing of £400 million. The charge made for exchange risk cover will in future be related to the currency composition of loan but the present flat rate premium arrangements will continue to apply to loans already advanced or approved and to those currently under consideration.