Manufacturing Industries: Export Credit Guarantees

Mr. Gordon Prentice
To ask the Minister of State, Department for Business, Innovation and Skills what recent assessment he has made of the effectiveness of export credit guarantees in supporting the manufacturing industry; and if he will make a statement.

Ian Lucas
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 on 20 October 2009 it was announced that ECGD, the UK export credit agency, was launching a scheme to support the confirmation of Letter of Credit Guarantee Scheme.

The Government are considering what other measures might support manufacturing industry and has and will continue to work with banks and business organisations to identify what further measures may be appropriate. ECGD will continue to work with UKTI and regional development agencies to ensure British exporters get the real help they need to take advantage of all the opportunities open to them.