§ Mr. Paul MarsdenTo ask the Secretary of State for Trade and Industry what plans he has for the involvement of private finance in the Export Credits Guarantee Department. [102236]
§ Mr. CabornThe Review of the Mission and Status of ECGD, which my right hon. Friend the Secretary of State for Trade and Industry announced in the House on 27 July 1999,Official Report, columns 305–06W, is still in progress and it is important not to pre-judge the outcome. Once Ministers have decided what ECGD's future functions and direction should be, we will start to consider how ECGD's services can best be delivered and whether any change in its status would be required. This will include an assessment of whether all, or any part, of ECGD's operations should be privatised or contracted out. ECGD does, of course, already work closely with the private sector by issuing guarantees to banks providing finance to UK exporters.