EXPORTS CREDIT GUARANTEE DEPARTMENT

Motion Text

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.