Lord Mandelson blames insurers for scheme’s low take up

Lord Mandelson will not extend the £5bn government trade credit insurance top-up scheme and blamed the insurance industry for its failure, the FT reports.

Mandelson said: "It would have been much better if the three main credit insurers had been more forthcoming in supporting the market for trade credit insurance.”

Mandelson said the market was "beginning to change, which suggests the sort of scheme we put in place is no longer needed".