UKEF £79m post-Brexit export boost

(CCH Daily, 24 November 2016) Financial support for UK exporters will double through UK Export Finance (UKEF), the UK's export credit agency. The Treasury's Autumn Statement included details of an additional £79.4m in funding over the lifetime of this Parliament for the Department for International Trade (DIT) to build capacity to support the UK’s exit from the EU and negotiations for the best possible global trading arrangements for the UK. The DIT will use the money to develop and deliver an independent international trade policy. The Treasury said the new measures will see UKEF’s total risk appetite double to £5bn and the maximum cover limit for individual markets increase by up to 100%, potentially resulting in as much as £2.5bn of additional capacity to support exports to some destinations.