Government Aid for Exporters
Page 38
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From our Industrial Correspondent
BRITAIN'S comm ercial vehicle industry should benefit from new Government aid measures, announced by Mr. Reginald Maudling, President of the Board of Trade, last week. His proposals fall into three parts,
. First, and probably most important for the motor industry, there is to be a substantial reduction, amounting to some 25 per cent., in the premiums charged by the Export Credits Guarantee Department.
The reductions will be greatest in the rather " risky " markets where potentially a lot of business is to be had. For some of these countries the premiums are to be reduced by as,much as 40 per cent.
Second, the department is to guarantee loans for longer than five years in exceptional cases for such things as very large capital projects and ocean-going ships.
And finally, to encourage the small and the new exporter, there is to be a ri4 special over-the-counter scheme to cover the firm against losses. For 15s. for every £100 insured, the firm will be guaranteed 90 per cent. of any bad debt within four months of the money being due.
This scheme will apply to any firm, whatever its size, whose export turnover has not exceeded £10,000 a year in recent years. It will be available to the firm for two years or until its insured turnOver has reached £20,000.
05,000 TIPPER ORDER
AN order worth over £95,000 has been placed by Bird and Co., Ltd.. of Calcutta, with Associated Indian Enterprises Pvt., Ltd. The main distributors for Ashok Leyland in West Bengal and Bihar.
A total of 38 Leyland Comet 9-ft. 10-in, wheelbase chassis have been ordered. They will be powered by Leyland 0.350 oil engines and equipped with Pilot 0V4 hydraulic tipping gears and 5-cu.-yd. capacity dumper bodies.