Arms Trade: Export Credit Guarantees
(asked on 20th October 2017) - View Source
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what the cost was to the public purse of export credit guarantees for arms sales and other military assistance in 2016.
This question was answered on 30th October 2017
UK Export Finance charges a premium for all the export credit guarantee support it provides to reflect the risk assumed. The premium must cover anticipated long-term losses resulting from claims paid, as well as UKEF’s operating costs. Through this arrangement UKEF aims to operate at no net cost to the taxpayer. No claims were paid in respect of defence business in 2016.