The Minister of State, Department for Business, Innovation and Skills (Michael Fallon)
My noble Friend the Minister for Trade and Investment, Lord Livingston, has today made the following statement:
A triennial review of the Export Guarantees Advisory Council (EGAC), a statutory non-departmental public body of the Export Credits Guarantee Department (ECGD, operating as UK Export Finance), was announced on 9 October 2013, Official Report, column WS31. The review has now been completed and accepted by the Government.
EGAC is a statutory body which provides independent and expert advice to Ministers, principally on the application of UK Export Finance’s ethical policies. The review concluded that the functions performed by EGAC are still required and that it should be retained as an advisory non-departmental public body (NDPB). The review also considered the EGAC’s governance arrangements in line with Cabinet Office guidance on good corporate governance and made recommendations in this respect.
Copies of the report of the review will be placed in the Libraries of both Houses and published on the UK Export Finance website.