Asked by: Rebecca Long Bailey (Labour - Salford)
Question to the Department for International Trade:
To ask Secretary of State for International Trade, what value of bonds the Government holds in Burntisland Fabrications.
Answered by Mark Garnier - Shadow Parliamentary Under Secretary (Work and Pensions)
UK Export Finance (UKEF) supports UK exports by providing insurance, guarantees and loans. It does not hold bonds in Burntisland Fabrications.
In 2016-17 UKEF issued a £17million guarantee to the Royal Bank of Scotland for a performance bond* to a Dutch company, Seaway Heavy Lifting in support of Burntisland Fabrications’ supply of fabrication work for the Beatrice Offshore Wind Farm. This guarantee is extant. UKEF publishes details of its support on an annual basis in its Annual Report and Accounts which is presented to Parliament and on its website.
https://www.gov.uk/government/collections/uk-export-finance-annual-reports-and-accounts
* A performance bond safeguards one party of a contract against the failure of the other party to meet obligations specified in the contract.
Asked by: Rebecca Long Bailey (Labour - Salford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, what recent estimate his Department has made of the number of UK-based companies operating in Eritrea.
Answered by Mark Garnier - Shadow Parliamentary Under Secretary (Work and Pensions)
We are currently aware of two UK companies operating in Eritrea. The Government of Eritrea places restrictions on the number and type of international businesses that are allowed to operate in the country.
Asked by: Rebecca Long Bailey (Labour - Salford)
Question to the Department for International Trade:
To ask the Secretary of State for International Trade, how many export licences to Eritrea the Government has issued to UK-based companies in each of the last three years.
Answered by Mark Garnier - Shadow Parliamentary Under Secretary (Work and Pensions)
The Government has granted the following numbers of strategic export (dual use) licences in the last 3 years:
2014: 1
2015: 1
2016: 3
Licensing data of this nature is routinely published as official statistics on www.gov.uk.