Future Of Export Credits Guarantee Department

EDM number 120 in 1989-90, proposed by Barry Porter on 30/11/1989.

That this House notes that the future of the Export Credits Guarantee Department is under consideration by the Government; recalls that the Kemp Report recommended: (a) that there was no alternative to a Government scheme for long-term and project business if British exports were to remain competitive and (b) that the Insurance Services Group should become a Government-owned company with a view to the eventual introduction of private capital; is concerned that the Treasury Memorandum to the Trade and Industry Select Committee shows the maximum possible short-term loss, if Government support for the Project Group is withdrawn, would be ú1,500 million or 2 per cent. of annual exports; insists that the Export Credits Guarantee Department's interest rate stabilisation function be maintained; and believes that any withdrawal of Government support for long-term and project export business would be gravely damaging to the United Kingdom's trade position.

This motion has been signed by a total of 28 MPs.