Orders of the Day — Export and Investment Guarantees Bill

Part of the debate – in the House of Commons at 4:56 pm on 22 January 1991.

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Photo of Ms Joyce Quin Ms Joyce Quin , Gateshead East 4:56, 22 January 1991

I am sure that the Minister heard what my hon. Friend said.

The overwhelming majority of respondents thought that the Government's tactics of trying to convince other countries to follow suit were unrealistic. Despite that vote of no confidence, the Government are sticking firmly ro that illusion. In answer to a presumably planted question by the hon. Member for Welwyn Hatfield (Mr. Evans), the Government stated: The Government intend to press in international fora for other export credit agencies to charge more economic premium rates for export credit support, but, in the meantime, ECGD will be adopting new premium rates which will be matched more closely to risk."—[Official Report, 14 January 1991; Vol. 183, c. 359.] In other words, we shall proceed no matter how slight the evidence that other countries will follow suit. That is an absurd way of proceeding and of approaching export credit support.