Commons Sense

House of Commons · Ministers' Questions

Export Finance Guarantee Scheme

Thursday 8 October 2020 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • Export finance guarantees are provided through UK Export Finance to support UK exports without costing the taxpayer.
  • UKEF recently introduced a new export development guarantee worth 500 million for Jaguar Land Rover and Ford of Britain.
  • The Minister agreed to discuss with Ian Paisley Jnr the need for more effective marketing of the scheme and to organize a meeting.

Topics (select to filter)

Questions & Answers

Q1 Ian Paisley Jnr DUP
Business & Trade
Context

The question addresses the effectiveness of UK Export Finance (UKEF) in providing export finance guarantees, focusing on a recent assessment.

Question

What recent assessment has been made of the effectiveness of the export finance guarantee scheme?

Answer from Graham Stuart

Export finance guarantees are provided through UK Export Finance, which ensures that no viable UK export fails for lack of insurance or finance at no net cost to the taxpayer. UKEF recently introduced a new export development guarantee providing £500 million to Jaguar Land Rover and Ford of Britain with more in the pipeline.

Partly answered

Not addressed: The answer did not provide any recent assessment of the scheme's effectiveness.

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Q2 Ian Paisley Jnr DUP
Northern Ireland Business & Trade
Context

The question focuses on the low take-up of the export finance guarantee scheme among companies in Northern Ireland and requests a meeting to discuss problems encountered by businesses attempting to access it.

Question

Does he agree that the take-up of the scheme among companies in Northern Ireland is not as high as it should be, and there needs to be more marketing and development of the scheme? Will he agree to a meeting between officials from his Department and me to discuss with companies that have tried to access it, the problems they have encountered so that we can ensure the scheme benefits companies in Ulster?

Answer from Graham Stuart

The hon. Gentleman is right about the need to market more effectively, and UKEF will be part of various bounce back plans including my launch in Northern Ireland of our tech bounce back plan. I would be delighted to organise a meeting with him.

Partly answered

Not addressed: While acknowledging the need for better marketing, the response did not commit to discussing specific problems faced by businesses.

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