Further Changes Announced to Government Trade Credit Scheme
Published : August 21, 2009
Members may have read in some of this morning’s papers about further changes that the Government has made to its Trade Credit Insurance Top-up Scheme.
Launched in the Budget the scheme seeks to underwrite cover which dried up in the wake of the credit crunch. There were substantial problems with the scheme as announced and in June the Government was forced to backdate its availability after pressure from industry, including from the MTA.
They have now made a second round of changes and more of our concerns have been addressed. The cost of taking part in the scheme has been halved, the upper limit of what is available has been increased to £2million and the minimum threshold (previously £20,000) has been removed.
Full details are available here http://www.businesslink.gov.uk/Horizontal_Services_files/TCI_scheme_details_PDFv8_140809_blink.pdf.
Paul O’Donnell, MTA’s Head of External Affairs would welcome any feedback from members (whether positive or negative) who access the scheme under the new arrangements.
Contact
Paul O'Donnell
Email : podonnell@mta.org.uk
Telephone : 020 7298 6409
