§ Jeremy CorbynTo ask the Secretary of State for Trade and Industry What has been the cost to public funds in the last financial year of arms sales financed by ECGD payments. [90946]
§ Nigel GriffithsECGD charges premium for all its business, regardless of sector, at a level which reflects its assessment of the risks involved and is sufficient to meet the financial criteria set by Ministers. For defence business in 2001–02, ECGD paid claims of £125 million which were in respect of guarantees issued before this period. ECGD has paid no claims on defence business underwritten since May 1997.