Download the full outcome
Detail of outcome
On the basis of the views received, the government has decided to proceed with the proposals to make changes to the Secretary of State’s powers under s.1(1) of the Export and Investment Guarantees Act (EIGA) 1991 (as amended) and will also remove the requirement under s.13(4) to consult the Export Guarantees Advisory Council (EGAC) on the provision of reinsurance. These changes, along with certain other technical amendments to the EIGA as mentioned in paragraph 12 of the consultation document will be taken forward in a Bill to be laid before Parliament.
There were 43 responses received during the consultation period from a wide variety of sources including exporters, financial institutions, business groups, representative bodies, Non-Governmental Organisations (NGOs) and legal firms. The government is grateful for these submissions, which have been taken into account in its response.
Detail of feedback received
Responses to the consultation.
Under these proposals the EIGA would be amended to empower the Secretary of State to make arrangements which, in his view, will directly or indirectly, facilitate, support or develop:
- the UK’s export trade and the capacity of persons carrying on business in the UK to engage in exporting; or
- the participation of such persons in enterprises outside the UK.
This would give UKEF a more generalised ability to support businesses in the UK who export, or who may wish to become involved in exporting.
This Consultation is aimed at organisations and individuals that have an interest in the Government’s support for UK exports and investments overseas.