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Pay Policy (Government Action)

Volume 960: debated on Friday 15 December 1978

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asked the Secretary of State for Trade if he will seek powers to make payments by way of compensation to firms which had export credits refused as a consequence of the Government's pay sanctions policy.

No. The decisions to refuse export credits were made in the proper exercise of the powers accorded me by the Export Guarantees and Overseas Investment Act 1978—and its predecessor legislation—and I have no intention of seeking powers to compensate firms in relation to the consequences of such decisions.