I can confirm to my hon. Friend that the scheme applies only to the United Kingdom, but he will be aware that we are considering a proposal for confirming letters of credit, and we intend the Export Credits Guarantee Department to operate it. The ECGD will consult on the proposal shortly. The plight of UK exporters must be addressed, and that is why we are considering that proposal along with other measures that might be implemented to help our exporters. However, I should point out that we have a very competitive exchange rate, some very efficient UK businesses and some opportunities to take advantage of.