UK Export Finance (UKEF) is the UK’s export credit agency. Its products include an ‘invest to export’ offer for overseas investors looking to export from the UK.70 We asked the Department whether it had a good relationship with UKEF and whether UKEF’s products were incentivising new investment into the UK. It told us that it had a well- defined relationship with UKEF structured through a Memorandum of Understanding, a previous recommendation of this committee.71 The Department said that it en...

UK Export Finance (UKEF) is the UK’s export credit agency. Its products include an ‘invest to export’ offer for overseas investors looking to export from the UK.70 We asked the Department whether it had a good relationship with UKEF and whether UKEF’s products were incentivising new investment into the UK. It told us that it had a well- defined relationship with UKEF structured through a Memorandum of Understanding, a previous recommendation of this committee.71 The Department said that it ensures that the two organisations’ agendas are aligned through integrating senior levels, for example the chair of UKEF sits on the Department’s board.72 Type: conclusion | Number: 27 | Response status: accepted Government response: 7.1 The government agrees with the Committee’s recommendation. Target implementation date: February 2024 7.2 The department has an important role to play in ensuring alignment between the government bodies that support inward investment. The creation of the department