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The RHA has hailed a new government pledge of £10bn to support thousands of businesses by protecting against customer defaults and payment delays.
The Trade Credit Reinsurance scheme, agreed following extensive discussions with the insurance sector, will see the vast majority of trade credit insurance coverage maintained across the UK.
Commenting, RHA chief executive Richard Burnett (pictured) said: “The announcement follows months of intensive lobbying by the association on behalf of the industry.”
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A new RHA survey of 600 road haulage operators has revealed that 16% of them could be insolvent within four weeks, with government furlough payments and bounce-back loans only offering a temporary reprieve.
“The RHA has been lobbying government tirelessly on this issue and this news will come as a shot in the arm for thousands of road transport operators," Burnett continued.
“If the economy is to get back to its pre-pandemic levels, supply chain confidence is vital and we are pleased that our efforts to achieve this have, quite literally, paid off.”
