Trade credit extension should go futher says BRC
The Governments announcement that it will backdate eligibility to its trade credit insurance top-up scheme to 1 October 2008 is a welcome move but does not go far enough, the BRC has insisted.
The BRC says that the scheme should be backdated further to 1 April to offer protection to more retail businesses.
“The Government's decision to extend the eligibility of the trade credit insurance top-up scheme is a welcomed move,” says BRC business environment director Jane Milne. “But it should be backdated to last April, when insurers began removing cover as the downturn started to bite. Matching the trade credit insurance that private insurers are willing to provide is vital to helping fundamentally sound businesses weather the recession.”
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