The government’s move to pump £5bn into the insurance market to help stave
off the threat of company collapses has been given a lukewarm reception by the
world’s biggest insurer.
The scheme will see the government become a trade credit insurer providing
that the private sector has withdrawn.
But the CEO of Euler Hermes UK said the number of companies taking part in
the scheme may not be great because only the most robust businesses will
Fabrice Desnos said: ‘We don’t expect the take-up for the scheme to be very
high but if it makes a difference for a thousand SMEs where credit insurance is
a significant component of their business model, then it will have been a
‘The scheme recognises that some risks will not be worth taking and this is
an important point: this scheme is not about bailing out bad businesses, it is
all about protecting good businesses.’
The jury is still out among accountants as to whether the scheme will shore
up the system.
Tarlok Teji, head of retail at Deloitte, said: ‘It is clearly too early to
judge whether the proposals will be a success or not.’
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more