Government to act as backstop on trade credit insurance

Rain Newton-Smith, CBI Chief Economist, said:

“The Government’s decision to backstop trade credit insurance will protect thousands of jobs and allow many businesses across the UK to restart operations.

“This intervention will keep cash flowing within critical supply chains and more importantly, it will help lower risk for our exporters and ensure that UK firms can continue to trade with other countries.

“Getting this scheme up and running is crucial as the UK economy gradually restarts, while keeping public health as the first priority.”