§ Ms CoffeyTo ask the Secretary of State for Trade and Industry what the Government proposes to replace the Fixed Rate Export Finance Scheme on its expiry on 31 December. [64786]
§ Mr. MandelsonFollowing a conference chaired by Lord Clinton-Davis on 24 June, ECGD, along with banks, exporters, and their representative associations have been working to identify possible ways to enhance the competitiveness of UK exporters and to improve the cost-effectiveness of ECGD interest rate support. In order to allow the outcome of these discussions to be taken into account in negotiating a successor scheme, and to ensure continuity of service to exporters and banks in the meantime, the Government have decided to extend the validity of the current Scheme for a further three months until 31 March 1999.