1 The Industry and Exports (Financial Assistance) Bill raises the funding cap for financial assistance provided by the Government under section 8 of the Industrial Development Act 1982 (IDA) and increases the UK Export Finance’s statutory commitment limit, under the Export and Investment Guarantee Act 1991 (EIGA) to support export and business growth. This Money Bill contains three clauses:
● Clause 1 – Amendments to section 8 of the IDA 1982
● Clause 2 – Amendments to the EIGA 1991
● Clause 3 – Extent, commencement and short title
2 The IDA imposes an aggregate limit on the amount of sele…