Mandelson signals trade credit scheme will not be extended
Business Secretary Lord Mandelson has hinted that he will not extend the Trade Credit Insurance Top-up Scheme (TCITS) when it expires at the end of 2009.
The £5 billion scheme, which was launched in May 2009, has only helped 72 firms secure £18 million worth of cover so far. Lord Mandelson said the market is beginning to change and "suggests the sort of scheme is no longer needed". The Government's decision will be announced in the Pre-Budget Report on 9 December.
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