Government to expand it trade credit cover offer to firms
Lord Mandelson wants the Export Credit Guarantee Department (ECGD) to provide trade credit insurance to exporters and domestic traders, replacing the Budget’s £5bn trade credit insurance scheme, the Telegraph reports.
The Telegraph said Lord Mandelson would prefer not to use private insurers, such as Atradius, Coface and Euler Hermes, but that no decision had yet been made.
Mandelson is the Business Secretary and, after Friday's Government reshuffle, the First Secretary of State and Lord President of the Council.
Lord Mandelson said: "We are on the case. I think I know how to do this. But I need to prod some of my colleagues to focus."
He said he expected the measures to be made "sooner rather than later". The Telegraph claimed before the end of July.
