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Mr. David Watkins
asked the Secretary of State for Trade if the powers under which the cost escalation scheme is operated by the Export Credits Guarantee Department are to be renewed.
Mr. John Smith
Yes. It is the Government's intention to recommend to the House an extension for 12 months of the powers granted under section 5 of the Export Guarantees and Overseas Investment Act 1978 and that the scheme should continue to be operated in its present form.