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Response to the
Government Budget 2009
22nd April 2009
David Thomson, Chief Executive Officer, Close Invoice Finance, commented:
“We are very encouraged that the Chancellor has provided some much needed
relief to UK business, specifically to improve cash flow. The ability for a
loss making company to retrospectively reclaim tax on profits in the last
three years is an innovative and highly targeted solution. SMEs are the
engine room of the British economy and need to be supported in this way.”
“We were also pleased that the Chancellor has recognised the value of trade
credit insurance. Too often businesses fail because of a domino effect of
bad debt rather than them being fundamentally unsound. This move is
specifically aimed at mitigating this risk.”
