Government outlines plans for trade credit insurance scheme
Business Secretary Lord Mandelson today launched a scheme providing up to £5bn of additional trade credit insurance to businesses who have suffered reductions in their level of cover. The Government said it will be delivered as part of the Working Capital Scheme and will help mitigate the cash flow constraints caused by the withdrawal of trade credit insurance cover and constraints on the provision of working capital that this withdrawal has created.
From May 1 until December 31 this year, UK businesses will be able to purchase six months' 'top-up' insurance from the Government if credit limits on their UK customers are reduced. The qualifying
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