PRESS RELEASE 11/06/09

BFC celebrate credit insurance victory

The British Furniture Confederation is today celebrating the successful completion of one of its key objectives, following Lord Mandelson’s statement on credit insurance. Business Secretary Lord Mandelson has announced the backdating of the Government’s trade credit insurance top-up scheme to include suppliers who had their cover reduced since 1 October last year. Previously, the Scheme was only available to companies who had cover reduced since April this year.

Commenting on the news, Martin Jourdan, Chairman of the British Furniture Confederation said:

 

“This is a huge victory for members of the British Furniture Confederation. Whilst the BFC welcomed the launch of the trade credit insurance top-up scheme in April, we were concerned with that the Government had not backdated this scheme to protect firms which had previously lost vital insurance support.  

“However, after some very positive meetings and active dialogue with the Department for Business, Innovation and Skills, I know that they have taken these concerns seriously and worked to address the problem. I wholeheartedly welcome their decision to backdate the credit insurance top-up scheme to support firms who have lost their insurance cover since 1st October 2008.

“The backdating of this scheme will be a huge boost to British furniture, and shows the commitment of the Government to engage with British business and provide the support which we need to weather the recession.”

ENDS

Note to Editors:

Further details of the scheme can be found on the BusinessLink website here:

http://www.businesslink.co.uk/creditinsurance

The Department for Business Innovation and Skills press release confirming the backdating is here:

http://nds.coi.gov.uk/Content/Detail.asp?ReleaseID=403024&NewsAreaID=2

British Furniture  Confederation

 The British Furniture Confederation (BFC) acts a single voice for UK furniture and bed manufacturers. Led by an executive, comprising representatives of BCFA, BFM, FIRA and NBF, and supported by associate members (AMUSF, GMB, Proskills and WCFM), its mission is to ensure that the UK furniture industry has a strong and sustainable dialogue with Government.  Its roles include:

  • Securing the long term future and prosperity of the British furniture industry
  • Raising the profile of the industry at a political level
  • Formulating strategies for dealing with key industry issues
  • Engaging in dialogue and negotiating with Government on these issues
  • Working with the All Party Parliamentary Furniture Group to promote cross party discussion and to meet with senior influencers within Government agencies
  • Ensuring that the industry gains the recognition and attention that its size deserves

 Address:           BFC Secretary, FIRA, Maxwell Road, Stevenage, Herts, SG1 2EW.

Tel:                   01438 777700

Fax:                  01438 777800

email:               secretariat@britishfurnitureconfederation.org.uk