Topical question asked in the House of Commons, by Andy Reed (Labour). It was answered on Thursday, 14 January 2010 on behalf of the Department for Business, Innovation and Skills.

Topical Questions

Question: A number of measures such as advanced technology and manufacturing and low carbon fuel vehicles have made a significant difference, but what can Ministers do to assist manufacturing companies that are still struggling with credit insurance? Several local companies have approached me to say that they are still struggling with that scheme. If Ministers can make some suggestions about how they can assist, that would be very helpful.

Answer: This has been a significant issue during the recession. I agree with my hon. Friend and many companies have reported problems. It appears to me that there are flaws in a product that is insurance only for good times. After all, we want insurance for good and for bad times. The flaw in the product has been exposed during the recession, and I suggest that we need a better system in the future that helps businesses in bad times and good.

Secondary information