Tomorrow MPs will be asked to back a bill to radically shake up the Export Credits Guarantee Department. Since 1919 this little-known government department has used taxpayers' money to insure high-risk exports by private companies, today frequently to the developing world. Despite its low profile, the ECGD has far-reaching influence: in 2009-10 it backed business to the tune of £2.2bn, and the department now lies at the heart of the government's export growth strategy.
The problem is this department has a history of supporting highly controversial projects. The backlist includes the Turkwel Gorge power station in Kenya, which was mired in corruption, and the Baku-Tbilisi-Ceyhan oil pipeline (Report, 10 March), which, according to Amnesty International, created a human "rights-free corridor" through the Caucasus. Today ECGD continues adding to this record by backing exports that fuel climate change, enable human rights abuses, and generate millions of pounds of third world debt every year.
We believe the ECGD could be a champion for responsible British business by supporting, for instance, green technology exports. But this will require fundamental reform. As such, the Export Credits Guarantee Department bill seeks to overhaul what projects are backed and how they are managed, and ensure the ECGD is more answerable to the public and parliament. We urge all MPs to join us in backing this bill and help clean up Britain's exports.
Lisa Nandy MP (Labour)
Zac Goldsmith MP (Conservative)
Roger Williams MP (Lib Dem)
Caroline Lucas MP (Green)
Eilidh Whiteford MP (SNP)
Tony Cunningham MP (Labour)
Bob Russell MP (Lib Dem)
Sheila Gilmore MP (Labour)
Teresa Pearce MP (Labour)