§ Mr. Ancram
asked the Secretary of State for Trade if he is now in a position to make an announcement on the future of the cost escalation scheme operated by the Export Credits Guarantee Department.
§ Mr. Parkinson
Yes. It is the Government's intention to recommend to the House an extension for 12 months of the powers granted under section 5 of the Export Guarantees and Overseas Investment Act 1978 to enable the scheme's operation for a further year. The terms of the scheme are to be amended to increase the rate of premium payable for the cover it provides.