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Export Credit Guarantees

Volume 495: debated on Friday 3 July 2009

To ask the Minister of State, Department for Business, Innovation and Skills (1) if he will bring forward proposals for Government support for trade credit insurance for exports in line with those for domestic trade; (273228)

(2) what steps are being taken by the Export Credits Guarantee Department to provide Government support for short-term trade finance for exports.

[holding answer 13 May 2009]: Since the start of 2009, the Government have introduced a number of initiatives which will provide real help to exporters, as well as other businesses, during the current economic downturn. These have included the Working Capital Scheme, and ECGD is currently consulting on proposals for a Letter of Credit Guarantee Scheme. The Government are considering other measures to provide real help to UK exporters, including a possible export trade credit insurance scheme along the lines of that announced for domestic business in the Budget which will address the cash flow, credit and investment needs of businesses.