§ Mr. KeyTo ask the Secretary of State for Trade and Industry what the net cost or profit was of the fixed rate export finance scheme in each of the last three years excluding(a) transactions that were supported by SDR-based interest rates, (b) aerospace business under the Large Aircraft Sector Understanding and (c) the cost of ECGD's hedging operations. [58027]
§ Ms HewittECGD does not maintain its records in a way which enables it readily to report the net cost or profit of the FREF scheme on the basis you have asked.
However I can advise you that for each of the last three years for which audited figures are available the cost of FREF on all supported loans, not including the cost of ECGD's hedging operations, amounted to the following:
Year £ million 1998–99 56.4 1999–2000 21.8 2000–01 65.1