Export Credits Guarantee Department

Trade and Industry written question – answered on 4th November 2004.

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Photo of James Arbuthnot James Arbuthnot Shadow Secretary of State (Trade and Industry)

To ask the Secretary of State for Trade and Industry what change she has specified to the current requirement of Export Credits Guarantee Department to obtain Treasury Consents annually, as the Export Credits Guarantee Department (a) moves into Pilot Trading Fund status in April 2005 and (b) becomes a fully capitalised Trading Fund in April 2007.

Photo of Douglas Alexander Douglas Alexander Minister of State (Foreign and Commonwealth Office) (Trade) (also Department of Trade and Industry), Minister of State (Department of Trade and Industry) (Trade) (also Foreign and Commonwealth Office)

Sections 1, 2 and 3 of the Export and Investment Guarantees Act 1991 ('the Act') confer various powers on the Secretary of State acting through the Export Credits Guarantee Department, subject to the consent of the Treasury as required by section 4(2) of the Act. The requirement for ECGD to obtain Treasury consent will therefore continue throughout the Pilot Trading Fund, and during its status as a fully capitalised Trading Fund.

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