Vol. 487 No. 3
83 Mr. Perry asked the Tánaiste and Minister for Enterprise, Trade and Employment her views on the withdrawal of the insurance support scheme for small manufacturing companies in view of the huge competition that is now in the market place, particularly from Europe; and if she will make a statement on the matter. [3977/98]
One of the main factors giving rise to the decision to withdraw from the provision of export credit insurance was that the State scheme was tiny in the context of our total exports. Over the six year period since the scheme was restructured, the total turnover, or contract value, of exports covered was about £66 million. This compares to a total value of merchandise exports in 1997 alone of over £30 billion. The number of companies which availed of the scheme was less than 20.
The scale of operation of the restructured scheme, when compared to our buoyant exports, shows it has been of minimal benefit to exporters. I am satisfied that the scheme is no longer necessary and that its abolition will not have any significant adverse effect on industry.
