Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, when the Government’s trade credit reinsurance scheme will be ratified by the EU; and what steps the Government is taking to expedite that process.

The Government’s Trade Credit Reinsurance scheme, which has been agreed following extensive discussions with the insurance sector, will see the majority of Trade Credit Insurance coverage maintained for businesses across the UK.

This scheme is subject to State aid approval from the European Commission. We are working closely with the Commission to address any outstanding concerns. Once approval is secured we will swiftly be able to put contractual arrangements in place with insurers.