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CBI responds to Governments new Export Enterprise Finance Guarantee Scheme

The CBI today responded to the Government Trade White Paper, the new Export Enterprise Finance Guarantee Scheme, and other new trade finance products.

John Cridland, CBI Director-General, said:

"The new Export Enterprise Finance Guarantee Scheme and other new forms of financial support are good news for business, and long overdue. They will help UK companies step up export activity which is vital to deliver private sector growth and drive the economic recovery.

"Many of these new finance products are already on offer by most of the other G8 countries, so this scheme will bring the UK up-to-speed in competition terms.

"There’s a particular need to tackle export under-performance in smaller companies, so SMEs should be encouraged by these new trade finance products designed to help them break into foreign markets and grow their businesses.

"The Government now needs to focus on getting the marketing of these products right. This needs to be straight-forward and carefully targeted so that it reaches the companies with export potential. Banks also need to be ready to roll out these facilities quickly.

"We welcome the Government’s renewed commitment to conclude the important World Trade Organisation negotiations."

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