INDUSTRY VOICE


BMF members reassured by TCI scheme extension


THE BMF HAS confirmed to members that the government has extended its Trade Credit Insurance Scheme by six months to 30 June 2021. The Scheme ensures that trade credit insurance coverage and credit limits are maintained during the coronavirus pandemic, helping businesses to trade with confidence. John Newcomb, BMF CEO, said: “I currently chair the Construction Leadership Council’s working


group on trade credit insurance that, along with the CBI, has been calling for an extension to the Trade Credit Insurance scheme. We also provided detailed evidence from BMF members to support the extension. We are very pleased that the six-month extension has been confirmed, providing the reassurance I know many merchants were looking for as trading through pandemic continues.”


The Trade Credit Insurance Scheme, which is approved under State Aid Rules, is available until 30 June 2021, backdated to 1 April 2020. Individual businesses do not need to sign up for the scheme as in-scope policies held with a participating insurer will automatically be eligible for inclusion.


The participating insurers are: • American International Group UK Limited


• Atradius UK • Coface UK Branch


• Credendo – short-term non-EU risks


• Euler Hermes UK, a branch of Euler Hermes SA (NV)


• Markel International Insurance Company Limited • Nexus Trade Credit • QBE UK Limited and QBE Europe SA/NV


• Zurich Insurance plc


The Construction Leadership Council guidance on trade credit insurance during Covid-19 has also been updated to reflect the latest reinsurance scheme information.


BMF hears about Northern Ireland centenary


THE UK GOVERNMENT plans to mark 100 years since the creation of Northern Ireland - and the formation of the United Kingdom - the BMF has been told by the Secretary of State for Northern Ireland who we met prior to Christmas.


We took part in an invitation- only video-conference to hear Brandon Lewis MP speaking from Belfast where he announced the commemorations, backed by


The BMF welcome the following new members:


£3 million for the forthcoming anniversary. Also on the call was Arlene Foster MLA, First Minister of Northern Ireland.


The Secretary of State looked ahead to the centenary - Monday, 3 May 2021 - and outlined the current political situation, the state of the Union, and Anglo- Irish relations in the week before the UK-EU free trade agreement was reached.


The Minister defended the


Northern Ireland Protocol that is crucial to avoid a hard border on the island of Ireland. He described Northern Ireland’s position as unique and beneficial to businesses - because it is both within the EU Single Market and the United Kingdom. Mr Lewis acknowledged the centenary has to handled sensitively - because of partition and the historic difficulties during the Troubles. He spoke of the


BMF transport forum hears


BMF DIARY DATES


In light of the continuous changes to events due to COVID-19 precautions, please check the BMF website at www. bmf.org.uk for all the latest news and events updates in this ever-changing environment.


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vehicle ban THE UK GOVERNMENT’S DECISION to set a date to end the sale of new petrol & diesel cars and vans was discussed at the BMF Transport and Distribution Forum meeting just prior Christmas.


Following a consultation, the Prime Minister confirmed that (in England) the sale of new petrol & diesel cars and vans will be banned by 2030 - ten years earlier than planned. New hybrids will have 5 years longer


before they are banned in 2035. This Forum is chaired by Chris Paul of EH Smith Builders’ Merchants and the virtual meeting heard that ministers favour electric vehicles to replace the internal combustion engine. The BMF took part in the consultation to make the case for merchants. We urged ministers not to become besotted by one solution (battery electric) when others are equally valid (fuel cell electric). Current government


close interest shown in Northern Ireland by Joe Biden, the next USA President, and the business opportunities that could result from more


American investment in Northern Ireland.


Brandon Lewis MP has met the BMF several times before - both as Minister for Housing & Planning - and as Tory Party Chairman at the Conservative Conference that we attend.


policy shows mild bias in favour of battery electric for cars and vans - whereas hydrogen fuel cell electric looks to be a better option for HGVs.


The BMF also argued that the availability of compliant vehicles is a barrier. Under- developed market capacity means firms will be competing for a limited number of vehicles, whether battery electric or fuel cell electric, as the ban approaches. We await full details from the Department of Transport to assess the impact on our supply chain.


www.buildersmerchantsjournal.net February 2021


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