A UK Treasury-financed, off-balance-sheet vehicle may be hiding the extent of the financial liabilities of UK Export Finance (formerly the Export Credit Guarantee Department) and may also be concealing its use of taxpayer funds to cover operational expenses.
In addition, UK Export Finance has failed to put in place procedures that would enable it to comply with its legally-binding obligations (notably with respect to human rights) under Article 21 of the Lisbon Treaty.
These are among the conclusions of a recent Corner House submission to a UK Parliamentary group, one part of a broader questioning by civil society groups of the human rights and sustainability practices of Britain's official export subsidy apparatus.
