Pat Cox
Question:6 Mr. Cox asked the Minister for Tourism and Trade the total value of export credit insurance cover afforded in each of the years from 1990 to 1992 and to date in 1993.
Ceisteanna — Questions. Oral Answers. - Export Credit Insurance.
The total value of export credit insurance cover provided for the years from 1990 to 1992 and to 30 November 1993 is as follows:
|
£ |
|
|
1990 |
150,976,243 |
|
1991 |
127,072,965 |
|
1992 |
9,461,655 |
|
1993 |
2,996,859 |
In the four years quoted the total amount of cover afforded has declined from £150 million a year to £2 million a year?
Nearly £3 million to 30 November this year.
Will the Minister give the figure of outstanding liability at the end of each year and to date this year? It would be less than these figures.
I do not have the figure as of 30 November but I will give it to the Deputy when it is available. I checked the figure earlier in the year and the total amount of outstanding liabilites was not more than £14 million.
I am obliged to the Minister for that information. Would he comment on the fact that in June 1988 this House was invited to pass a Bill which raised to £500 million the total cover the Minister of the day could give for export credit insurance, the existing limit of £300 million being deemed inadequate at the time? In view of the fact that the total amount of cover afforded to 30 November this year is less than £3 million, does the Minister not agree that this House and the Seanad were asked to pass that Bill in circumstances in which they were seriously misled?
The question before us is essentially a statistical question and therefore matters appertaining to policy ought not to arise. They are separate questions. However, I will allow the Minister to reply.
I do not agree with the Deputy's description of what happened in 1988. As the Deputy well knows, the reason for the difference in the figures relates to the decision made in 1991 when he was Minister that the State would get ouf of the business of export credit insurance for commercial business. More than any other Deputy in the House, Deputy O'Malley knows that is the reason for the difference in the figures since 1990.
Is the Minister aware of the need for the decision I made in 1991 to take the State out of commercial cover for export credit insurance?
We are getting into the area of policy which requires separate questions.
The Deputy will also be aware that the decision taken at that time was a Government decision rather than a decision made by him.