Industry and Exports (Financial Support) Bill

I want to make several points about clause 2, which are very much in line with the comments of the hon. Member for Solihull (Lorely Burt). I greatly welcome the general powers in the Bill, especially in clause 1, to support industry. My hon. Friend the Minister knows that I represent a steel constituency, and support for manufacturing, when justified, is important, especially in the current circumstances. I appreciate that he, too, represents a manufacturing area. I strongly welcome the powers to provide support for manufacturing. The hon. Lady made some important points about clause 2. My hon. Friend knows that there have been several meetings about the powers that the ECGD should have to ensure that supported projects fulfil high standards of sustainable development, and have good environmental and social standards. He also knows that new guidelines have been drawn up for the ECGD. A debate is continuing with organisations such as WWF about whether the guidelines are adequate and meet the standards. There is a worry that because of the wording of clause 2 some existing arrangements do not meet the ECGD's guidelines on sustainability and environmental standards. I would certainly welcome some assurances on that, because the issue might be one that my hon. Friend the Minister's Department could address by ensuring that even if there is some element of retrospection, as provided for in clause 2, an assessment could still be made of any potential scheme. That is important to the non-governmental organisation community, as well as many hon. Members in all parts of the House, including me, and I would welcome some assurances on it. I would also appreciate perhaps just a comment about the wording of clause 2(1), which gives the Secretary of State clear powers to""make arrangements under this section in connection with supplies by persons carrying on business in the United Kingdom of goods or services to persons carrying on business outside the United Kingdom."" That seems quite a broad definition, so I wonder whether my hon. Friend could clarify whether it gives the Department some flexibility in the potential standards that it might apply in relation to any loan guarantee.