§ Mr. SalmondTo ask the President of the Board of Trade if he will give details of the role and functions of the Export Credits Guarantee Department; which functions have been privatised and on what basis; and if he will make a statement.
§ Mr. NeedhamThe Export Credits Guarantee Department's 1991–92 annual report and trading accounts, which were laid before the House on the 28 January 1993, provide full details of the Department's role and functions. These documents have been placed in the Library.
The Insurance Services Group of ECGD was privatised on 1 December 1991. I refer the hon. Member to the statement made by my right hon. Friend the Member for St. Albans (Mr. Lilley) on 2 December 1991, Official Report, columns 11–12 in which he set out the terms of the sale.