Question to the Department for International Trade:

To ask the Secretary of State for International Trade, for what reasons UK Export Finance can only lend for periods up to 10 years; by what legal authority the OECD imposes that lending restriction; what assessment he has made of the UK's trade position compared with that of international competitors as a result of that restriction; and if he will make a statement.

The UK government supports a rules-based approach to international trade. The OECD Arrangement on Officially Supported Export Credits (the Arrangement) is an important agreement to ensure that exporters compete on price and quality and not the terms of government supported finance. It is binding on the UK as it is incorporated into UK law.

UK Export Finance can support lending of up to 18 years for certain projects, in line with the terms of the Arrangement, including its sector understandings. This is consistent with OECD competitors including France, Germany and the USA.