§ Mr. CousinsTo ask the Secretary of State for Trade and Industry what were the turnover surpluses and/or deficits on(a) the insurance services and (b) the project group of the Export Credits Guarantee Department in each year since 1980.
§ Mr. Sainsbury[holding answer 5 February 1991]: The information requested is in ECGD's trading accounts for the years 1986–87 to 1989–90, which have been laid in Parliament. For the years 1980–81 to 1985–86, the trading accounts were prepared in a different format which showed the results of the guarantees issued analysed between commercial account (section 1 of the Export Guarantees and Overseas Investment act 1978) and national interest account (section 2).
The business included in these accounts as insurance services short-term business differs in some respects from that of the insurance services group which is to be privatised. The accounts are, therefore, not a guide to the profitability or otherwise of that business.