ANNOUNCEMENT 15 Jun 2011

In June 2011, the British government announced a change in its trade finance instruments.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 15 Jun 2011 | Removal date: open ended

Trade finance

 On 15 June 2011, the Export Credits Guarantee Department (nowadays UKEF) announced in a press release that it had guaranteed a contract worth 22 million GBP for the provision of buses to New Zealand. The Scottish bus producer Alexander Dennis Limited would provide 118 vehicles to a New Zealand bus operator.
In the press release, ADL Group Commercial Director was cited saying "There is no doubt that ECGD played a significant role in us penetrating this important market. (...) It is clear that the government, through ECGD and other departments is prepared to put its money where its mouth is when it comes to helping UK companies access new export markets. This sort of initiative provides a win-win situation for everyone. It supports jobs at our manufacturing operations in the UK, provides the platform for new build partnerships in overseas territories and puts British products in the shop window of the world. All of that could not have happened without the support of ECGD which, thankfully, also recognised the need for urgency and minimum bureaucracy".
A state measure in the GTA database is assessed solely in terms of the extent to which its implementation affects the extent of discrimination against foreign commercial interests. On this metric, the state aid proposed here is discriminatory. 

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
Inception date: 15 Jun 2011 | Removal date: open ended

Local sourcing

According to a media report (cf. Sources), UKEF provides loans under the condition that at least 25% of the loan is targeted to support British jobs.

 
N/A
 
N/A