§ Mr. LockTo ask the Secretary of State for Trade and Industry what has been the total sum paid out by the Export Credits Guarantee Department in respect of guarantees given to foreign companies or Governments in respect of contracts relating to defence and security equipment in each of the last three financial years. [56835]
§ Mr. MandelsonECGD issues guarantees to persons carrying on business in the United Kingdom in respect of the payment risk arising from supplies of goods and services to persons carrying on business outside the United Kingdom.
Under such guarantees the total value of claims payments made by ECGD in each of the last three years in respect of defence business was as follows:
£million Financial year Value of claims paid 1995–96 107.3 1996–97 49.7 1997–98 38.8