Business Finance update, September 10

Thank you to members that joined the business finance call this week.

  • Forward Priorities: Please find attached the agreed Forward Priorities for Business Finance (log-in to download) which will inform future work and member calls for the Finance Community. We welcome your feedback to andrew.cregan@brc.org.uk on the format of the calls to ensure its delivering value for you.
  • Trade Credit Insurance: The BRC have written to the Department for Business (BEIS) and the Association of British Insurers (ABI) on the apparent intransigence of providers of trade credit insurance, and to ask what feedback they have had on the success of the Government reinsurance scheme. We will share the response and potentially schedule a further call on this.
  • Business Rates: The Property Community is currently finalising the BRC consultation response on the Fundamental Review of Business Rates, which will be shared shortly.
  • Local lockdowns: The picture in relation to local lockdowns is becoming increasingly complicated. Restrictions of different degrees are in place across England and Scotland. In England, local restrictions are in place in parts of Greater Manchester, East Lancashire, Preston, West Yorkshire, Blackburn with Darwen, Oldham and Pendle, Leicester and Northampton Greencore factories. Other requirements in place in parts of Scotland (west of Scotland around Glasgow) and Wales (Caerphilly). These vary in their precise definition and extent.
  • Against the backdrop of a less certain national picture we are pushing government to ensure that there is consistency in application of the framework that sits around these decisions, and that there is a single point of accurate information for national companies and others to access about the lockdowns in place. Alongside this, we are in the process of considering what Government can do to support towns and cities as they reopen. Need to build sustainable, responsible activity in these areas.
  • Next call(s): A calendar invitation for our further Business Finance calls will be circulated shortly.  

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