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Volume 172: debated on Thursday 17 May 1990

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To ask the Prime Minister what action Her Majesty's Government are taking on the recommendations of Professor Paul Hare, of Heriot-Watt university, in relation to encouraging British financial institutions to counteract Hungarian over-dependence on financial institutions in Dusseldorf and Frankfurt, by British participation in the Hungarian economy and by linguistic, scientific and marketing practice assistance; and if she will make a statement.

British financial institutions' involvement in the development of the Hungarian economy is a matter for their commercial judgment. The Government's know-how fund is available for projects in Hungary including linguistic and marketing training. The Export Credits Guarantee Department is now considering applications for investment insurance in eastern Europe.