Export Finance Guarantee Scheme 2020-10-08
2020-10-08
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
▸
Context
The question addresses the effectiveness of UK Export Finance (UKEF) in providing export finance guarantees, focusing on a recent assessment.
What recent assessment has been made of the effectiveness of the export finance guarantee scheme?
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.
▸
Assessment & feedback
The answer did not provide any recent assessment of the scheme's effectiveness.
Response accuracy
Q2
Partial Answer
▸
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.
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?
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.
▸
Assessment & feedback
While acknowledging the need for better marketing, the response did not commit to discussing specific problems faced by businesses.
Response accuracy