EXPORTS CREDIT GUARANTEE DEPARTMENT

Early day motion 1473, tabled 19 June 2002 by Paul Stinchcombe (Labour). Signed by 32 members.

That this House is concerned that the Export Credits Guarantee Department continues to lose money in relation to defence related exports; notes that despite the ECGD's cross-sector responsibility to break even, between 1990 and 2000 premiums in this sector amounted to ú213 million while claims paid out totalled ú677 million, amounting effectively to a Government subsidy of ú454 million for the arms trade; further notes that arms-related exports are exempted from ECGD impact assessments in relation to its business principles; is further concerned that arms-related exports to both Pakistan and India continue to be sustained by the ECGD; and calls for an end to the provision of export credits for any arms-related exports.

Signatures by party: Labour 21, Liberal Democrat 9, Labour/Co-operative 2.