Chancellor Boosts UK Export Finance by £10 Billion to Power British Exports
The Chancellor has turbocharged UK Export Finance (UKEF) with an extra £10 billion in capacity. This hike lifts UKEF’s lending limit from £50 billion to £60 billion, promising a major boost to British exporters.
More Support for UK Exporters
UKEF’s fresh £10 billion injection ensures it can keep backing UK businesses, helping them export goods without fear of financing shortfalls. The agency’s mission is clear: no viable UK export should fail for lack of cash—delivered sustainably and with zero cost to taxpayers.
UKEF CEO Tim Reid Talks Jobs and Growth
“This is fantastic news for the UK companies that we are here to support. It means we can help more British businesses export and will enable us to support more jobs and help to fuel growth,” said UKEF CEO Tim Reid.
Powering Jobs and Green Growth
- In 2021-22, UKEF backed exports worth £7.4 billion, supporting up to 72,000 UK jobs.
- The new funds aim to keep that momentum, fuelling economic growth nationwide.
- UKEF is also ramping up its commitment to clean growth, having supported £7 billion in sustainable projects since 2019.
- This fresh capital injection will boost efforts to drive long-term, sustainable economic success.
