UK Export Finance: Mandate
House of Commons · Written Statements · 9 Jul 2026 · 1 speech · Official Report
The Government are taking decisive action to strengthen the UK’s economic security and deliver growth in an increasingly contested and uncertain global economy. As the UK’s export credit agency, UK Export Finance drives growth by helping businesses across the country win contracts overseas, expand into new markets, and sustain high-value jobs. It plays a central role in mobilising capital in support of the Government’s economic objectives. UKEF’s 2025-26 impact report shows that last year UKEF provided £11 billion of support, which supported up to 85,000 jobs across the UK. Over the last 5 years, UKEF has supported 330,000 UK jobs, unlocking £23 billion of GDP growth. Export credit agencies in peer and competitor countries are moving quickly to support a broader range of trade and investment activity, providing their firms with a wider and deeper range of financing to compete internationally. UKEF must be similarly equipped to match this ambition. However, its current statutory framework is primarily focused on supporting exports and does not provide sufficient flexibility to support the full range of modern trade, investment and supply chain activity. As part of its modern industrial strategy, the Government committed to reviewing UKEF’s mandate, with a view to establishing a wider trade and investment remit to drive growth across the eight growth sectors. Delivering this commitment is a key part of the Government plan for growth. I am therefore announcing the Government’s...