UK Exports

Debate between Baroness Mobarik and Viscount Waverley

Tuesday 24th January 2017 Lords Chamber

[Baroness Mobarik]

I am afraid that I do not have the exact numbers but I will endeavour to write to the noble Lord with that information.

[Viscount Waverley (CB)]

My Lords, are the Government sufficiently satisfied with the uptake by United Kingdom companies on the export finance facilities, and does the Minister believe that the offerings by government are sufficiently robust to act as a tool for post-Brexit export prowess?

[Baroness Mobarik]

The noble Lord asks a valid question. In the last year, UK Export Finance supported the highest number of UK exporters in a quarter of a century, 23% more than in the previous year. However, UKEF is not complacent. The doubling of its capacity announced by the Chancellor will enable even more UK businesses to export. UKEF’s offering is a key component of the UK’s success as a global trading nation.