Author Archives: HM Government

The enhanced support comes as the Department for International Trade looks to encourage more UK companies to invest overseas, realising the opportunities presented by fast-growing developing economies around the world.

UKEF’s overseas investment insurance provides UK companies investing abroad with protection against losses, primarily related to political or extraneous events. This new policy will widen the scope of the risks against which the government can insure these investors.

It has been designed to offer cover where there is a commercial demand but the private sector doesn’t have the capacity, such as markets which may have complex legal or political contexts, or in which difficulties may arise over transferring local-currency earnings.

Secretary of State for International Trade Liam Fox said:

Overseas direct investment can be a vital way for UK businesses to grow their revenues and enter new markets, building a strong domestic economy as well as helping to share prosperity and build strong bilateral relationships around the world. As an international economic department, the Department for International Trade is supporting UK companies to fully realise the benefits of the global marketplace with this new overseas investment insurance product from UK Export Finance.

James Bamford, Chairman of the Lloyd’s Market Association Political Risks, Credit and Financial Contingencies Business Panel, commented:

UKEF’s overseas investment insurance is now a market-leading product and will greatly enhance the support the private sector can provide. Together, we can offer greater assurance to UK investors and help them fulfil their international ambitions by focusing on advantageous commercial opportunities rather than political complications.

1. UK Export Finance is the UK’s export credit agency. UKEF provides loans, guarantees and insurance to help exporters win, fulfil and get paid for export contracts, and protect investments made overseas.

2. To be eligible for OII cover from UKEF, the customer must be based in the UK and seeking to invest in an enterprise outside the UK.

3. The policy premium, details and risks covered are decided on a case by case basis but may include:
   • war, civil war, revolution and insurrection in the host state
   • expropriation or nationalisation of the enterprise in which the investment is made (or of its property) contrary to international law
   • restrictions on remittances, including exchange controls, imposed by the host state The policy pays out up to 90% of the loss after a specified waiting period (typically 6 months).

4. You can find details of UKEF’s overseas investment insurance product here.

5. Sectors in which UKEF has provided financial support to UK companies include: aerospace, construction, oil and gas, mining and metals, petrochemicals, telecommunications, and transport.

6. UKEF has a regional network of 24 export finance advisers supporting export businesses.

7. UKEF supports exporters with a range of products that include:
   • Overseas investment insurance
   • Bond insurance policy
   • Bond support scheme
   • Buyer & supplier credit financing facility
   • Direct lending facility
   • Export insurance policy
   • Export refinancing facility
   • Export working capital scheme
   • Letter of credit guarantee scheme

The Environment Agency is reminding anglers of the importance of having a rod licence after three men were handed hefty fines for fishing illegally in separate offences.

They were caught during targeted patrols by Environment Agency Fisheries Enforcement Officers.

• On 16 April this year, Adrian Faife, 59, of Gairloch Road, Camberwell, London, was found fishing for eels or freshwater fish at Aldin Fishing Lakes, Durham without a licence.
• On 30 April 2017, Sylwester Michneiwicz, 37, of Roker Avenue, Sunderland, was caught trout fishing at Derwent Reservoir, Consett, without a license.
• On 1 May this year, Jordan Mark Aldworth, 22, of St Johns Walk, Escomb, Bishop Auckland, was found fishing for trout at Grassholme Reservoir, Middleton In Teesdale.

Each was fined a total of £611, ordered to pay costs of £127 and a victim surcharge of £44.

The offences were all proved in absence at County Durham and Darlington Magistrates’ Court on 13 September.

The Environment Agency’s Fisheries Technical Specialist for the North East, Kevin Summerson, said:

It is wrong for anglers to think they can avoid paying for a licence. Those that do are cheating their fellow anglers.

Environment Agency Fisheries Officers are out checking licences almost every day of the year at all times of day. It’s just not worth it to fish without the appropriate licence. The most a coarse and trout licence costs is £45, which would cover an angler for one year from the date of purchase and, where conditions permit, allow the angler to fish with up to three rods.

With what it has cost these anglers in fines, costs and victim surcharge they could have fished legally for over 10 years.

All income from rod licence sales is used to fund Environment Agency work to protect and improve fish stocks and fisheries, including improving habitats for fish and facilities for anglers, tackling illegal fishing and working with partners to encourage people to give fishing a go.

Buying a rod licence is quick and easy – you can buy them online at the Post Office.

The Environment Agency urges anyone to report illegal fishing by calling 0800 80 70 60.