UK Export Finance inquiry call for evidence

News article

The Houses of Commons International Trade Committee is seeking views for its inquiry into UK Export Finance

The International Trade Committee has launched an inquiry into UK Export Finance (UKEF), the UK’s official export credit agency. UKEF aims to support UK exporters by ensuring that “no viable UK export fails for lack of finance or insurance from the private sector, while operating at no net cost to the taxpayer.”

The terms of reference of the committee inquiry is based on two areas, operation and engagement. The committee is seeking submissions from anyone with answers to the following questions:

Operation

  • How comprehensive is UKEF’s product offering - and how attractive are particular products when compared with private sector options?
  • How suitable is UKEF’s process for assessing applications for support?
  • Do particular sectors, types of projects, or projects involving certain export destinations receive more UKEF support than others?
  • Are UKEF’s performance targets suitable? Is UKEF’s current financial allocation from HM Treasury and risk appetite appropriate to allow it to meet these targets?
  • How can UKEF continue to support economic recovery from the COVID-19 pandemic?

Engagement

  • How user-friendly are UKEF products for its range of customers, including small and medium enterprises? How well does UKEF communicate its offering to new and existing customers?
  • How does UKEF engage with Department for International Trade, the British Business Bank and private sector partners to ensure the requirements of businesses exporting overseas are met?
  • To what extent does UKEF draw on external expertise and knowledge in the design and review of its products?
  • What could UKEF learn from other successful export credit agencies around the world?

Find out more about the committee inquiry and ways to submit evidence on the UK Parliament website.

The closing date for submission of evidence is Friday 25 September 2020.


First published 4 August 2020