Vol. 409 No. 1
3 Mr. Taylor asked the Minister for Industry and Commerce if he will outline the current position in relation to availablility of export credit insurance including (a) the countries in respect of which this insurance is available, (b) the products to which it is applied and (c) the companies availing of such insurance; and if he will make a statement on the matter.
The export credit insurance scheme is administered by the Insurance Corporation of Ireland plc (ICI) as agent of the Minister for Industry and Commerce. Export credit insurance is available for all countries listed on a published country grading schedule which is provided to all policy holders. Applications for insurance for exports to countries not on the schedule are considered on a case by case basis.
There are no restrictions governing the type of Irish products which may be covered by the scheme.
It is not the practice to disclose the names of companies availing of the export credit insurance scheme or to give details of the amount of cover they have individually received. This is confidential information relating to the commercial operation of the companies concerned. Its disclosure would be inappropriate and would not be in the best interests of the companies concerned or of the scheme. I can, however, say that at present there are about 400 companies covered by the scheme involving exports to 20,000 buyers in over 90 countries.
4 Mr. Barry asked the Minister for Industry and Commerce when he proposes to publish the report on export credit insurance carried out by consultants at the request of his Department.
10 Tomás Mac Giolla asked the Minister for Industry and Commerce if the study of the export credit insurance scheme undertaken for his Department by consultants (details supplied) has yet been received by his Department; if not, when it is expected to be completed; the total costs of the consultants' services; and if he will make a statement on the matter.
I propose to take Priority Question No. 4 and Oral Question No. 10 together.
The report referred to by the Deputies was received by my Department on 17 May 1991. Given the importance of the subject matter involved, the findings and recommendations contained in the report will require careful and detailed consideration by me and by my Department and subsequently by the Government. The question of whether the report, or a part thereof, should be published will also be considered.
The total cost of the consultancy study (including expenses and VAT) will not exceed £70,110.
In view of the controversy surrounding this scheme, does the Minister think it desirable that the report of the independent body is published so that everybody can see that the scheme is above board, how it operates and its effectiveness from the point of view of exports?
Of course the study was not conducted into the scheme from the point of view of its use by any one company or group of companies, it was done from an overall point of view. When we have completed our examination and consideration of its recommendations. I will consider publishing it.
Has the Minister any idea of when that will be?
I am sure it will be a couple of months as it is quite long and it deals with pretty important matters which will have to be carefully considered.
