§ Mr. Austin Mitchell
To ask the President of the Board of Trade how much in existing guarantees by the ECGD was(a) at risk, (b) in default, (c) written off and (d) still being used in each year from 1985 to privatisation; and what is the extent of Government liability for such accumulated and risks.761W
§ Mr. Needham
The information requested has been published in ECGD's trading accounts from 1985–86, copies of which can be found in the Library. For convenience the relevant details are brought together in the following table:
Amount at risk1 Amount in default 1 (paid claims and interests) Amount written off (annual) Total provision1 £ million £ million £ million £ million 1985–86 27,770 2,107.6 35.8 976.4 1986–87 23,794 2,623.6 25.5 1,481.9 1987–88 23,154 4,017.0 25.2 3,147.5 1988–89 21,584 5,103.4 66.2 4,176.1 1989–90 20,717 6,364.8 59.9 7,916.5 1990–91 19,533 7,071.3 38.5 8,511.9 1991–92 17,958 8,118.5 47.9 8,539.5 1Balance as at 31 March
Amounts at riskThese amounts represent ECGD's gross contingent liability under extant guarantees excluding unrecovered claims payments.
Amounts in defaultThese comprise gross paid claims, plus interest, which have not been recovered or written off.
Amounts written offThese sums relate to the amounts in relation to which recovery action has been abandoned during the year in question.In order to give a more rounded picture the table also includes the total provision in respect of losses on unrecovered claims and amounts at risk. This represents the cumulative amounts which have been charged to ECGD's trading accounts.