A letter from UK Export Finance in direct response to the Budget highlighted more good news from the Chancellor. The Direct Lending pilot scheme launched last year to provide loans directly to overseas buyers has now been put on a permanent basis.
The Chancellor also announced that it will be easier for banks to provide export credit loads to overseas buyers to purchase goods and services for UK exports. Both of these new arrangements will come into effect from the end of April 2014.
The letter also explains that there will be a public consultation regarding new legislation to allow UK Export Finance to provide broader support to individual exporters.