£4bn green strategy to create 250k jobs – business news 18 November 2020.

James Salmon, Operations Director.

£4bn green strategy to create 250k jobs; Inflation increases to 0.7% in October; Pandemic is changing the economy;  Growth will be weaker without a Brexit deal; Investors fear long-term recession; covid-19, market and other business news.

Here are CPA we want to share the business news stories we have seen that we think will affect our members and readers. Many of us are busy fighting to protect our businesses and therefore might have missed some of the news that could impact small businesses, their owners and those that sell on credit.

£4bn green strategy to create 250k jobs

The Government is to invest £4bn in its green strategy, creating 250,000 new green jobs as part of its plan to hit net zero emissions by 2050. It also aims to equip a generation of workers with new green skills.

Boris Johnson has published a 10-point green strategy to achieve the goal, emphasising potential jobs that the so-called green industrial revolution could bring to regions that have suffered industrial decline.

Technology to capture and store carbon created in industrial processes will receive substantial government investment as part of the green strategy.

Investment in off-shore wind has already been announced.

As one of the biggest emitters of carbon, government grants will target residential heating to make homes more energy efficient,  which will create thousands of new jobs.

There is speculation that the green strategy will include a ban on the sale of new petrol and diesel cars being brought forward to 2030 – five years earlier than previously planned.

It is predicted that the final green strategy plan will also include investments in hydrogen power and new nuclear energy.

The full 10-point green strategy plan will be published tonight at 22:30 ahead of a press conference.

The government’s plan shows that it is serious about a transition to a new economy, with some concrete commitments announced to accelerate the move towards a net zero carbon economy by 2050.

Douglas Grant, Director of Conister, said:  There are significant opportunities for the SME sector to capitalise on this transition – and while government funding will be important, access to credit will be critical for entrepreneurs and businesses to take advantage of these new opportunities as well as to help them adapt and change their business models. We are already seeing signs of the SME segment pivoting towards the green economy, with Covid-19 serving as an accelerator.

Inflation increases to 0.7% in October

Rises in the cost of clothing and food helped to push UK inflation higher than expected last month. Inflation unexpectedly jumped to 0.7% in October from 0.5% in September.

“The rate of inflation increased slightly as clothing prices grew, returning to their normal seasonal pattern after the disruption this year,” said Office for National Statistics deputy statistician Jonathan Athow.

Food prices rose between September and October, with most of the increase coming in fruit and vegetables, according to the Office for National Statistics.

Capital Economics said food price inflation should continue to rise in November as supermarket demand continues to increase during the Covid-19 lock-down.

Bailey: Pandemic is changing the economy

Andrew Bailey, governor of the Bank of England (BoE), says positive results from trials of coronavirus vaccines could trigger a surge in investment by removing some of the uncertainty that has held back spending. Development of successful vaccines, he added, would be a “a big step forward” for the economy.

Mr Bailey told a TheCityUK conference that while nobody was sure how permanent any economic changes would be, his “best guess” was that there will be “lasting changes”. He went on to say that the pandemic may spur “a reversal of the period of low productivity growth”.

He also suggested that loosening financial regulations could drive large scale “productive investment” that would support the country’s post-coronavirus recovery. Elsewhere, BoE deputy governor Dave Ramsden has warned of the economic impact of the crisis, saying as much as £490bn would be lost to the economy over the next three years

Growth will be weaker without a Brexit deal

KPMG has warned that failure to secure a Brexit deal will hurt economic growth, with chief economist Yael Selfin saying the economy will expand by just 4.4% in 2021 with no agreement secured with the EU. Without a deal, the UK will not return to pre-pandemic levels until 2024, she adds. Ms Selfin says that if a partial Brexit deal which excludes the services sector is agreed, output will grow by 7.2% next year and the economy will bounce back to its pre-coronavirus peak by 2022. The KPMG report suggests that growth would hit 10.1% next year if the UK and EU maintained existing relations.

Investors fear long-term recession

A survey of over 1,000 investors by FJP Investment shows that 62% fear that the Government’s handling of the coronavirus pandemic will result in a long-term recession. In regard to Brexit, 41% said they are concerned over the impact of the UK’s exit from the EU on their finances, especially as a trade deal with the bloc has yet to be agreed. The proportion concerned by Brexit jumps to 53% for those with portfolios worth over £250,000.

Covid-19 general news

In the UK there were 20,051 new cases yesterday bringing the total above 1.4 million with 598 new deaths raising the national total to 52,745

Worldwide there were 628,136 new cases,  bringing the total to 55.6 million with 1.34 million deaths.

Pfizer Inc.’s chief executive officer said the drugmaker’s coronavirus vaccine reached a key safety milestone and that it is preparing to seek an emergency-use authorization, adding to signs of progress in efforts to halt the disease.

The British Medical Association warned that tough new measures must remain in place between the end of the lock-down and the potential roll-out of a vaccine. Lifting lock-down on 2nd December without strict regional restrictions risked a fresh surge in infections that would leave hospitals and family doctors “overwhelmed” and “unable to provide even the most critical of patient care.”


The FTSE 100 retreated yesterday from five month highs, dropping 0.9% while the 250 fell 0.5% as a strong pound (1.329 USD and 1.119 Euros) weighed on UK stocks along with concerns on Brexit trade negotiations.  Overnight, the S&P 500 dropped -0.48% and the  NASDAQ dropped -0.21%.  Pharmacists were hit by Amazons launch into the sector with some falling 10 to 20%.

The oil price eased as markets digested the impact of the latest wave of covid on the short term demand, despite the long terms hopes from the vaccines. Gold was trading in a narrow range around $1880.

Bitcoin added 15% this week to rise above $18,000, more than doubling this year as it is becoming seen by investors as a more legitimate asset as covid concerns push the search for alternative havens.


EasyJet yesterday posted its first annual loss in its 25-year history as the coronavirus crisis grounded its fleet and hammered demand for travel. The stock has fallen 47% in the year-to-date and was demoted from the 100 to the 250 index. Total revenue in the financial year to the end of September fell 53% to £3 billion, with passenger numbers down 50% to 48.1 million. The low-cost airline swung to a pretax loss of £1.27 billion from a profit of £430 million the year before. The headline pretax loss was £835 million, turning from a £427 million profit.


Credit reference agency, Experian reported a fall in first-half profit as weakness in the UK and Ireland and EMEA/Asia Pacific held back revenue. For the six months ended 30 September 2020, pre-tax profit fell 5% to $458 million year-on-year as revenue was flat at $2.49 million. Organic first-half revenue in UK and Ireland and EMEA/Asia Pacific fell 12% and 18%, respectively


Tesla will join the S&P 500 share index next month. The carmaker’s market capitalisation of $400bn is bigger than those of 95% of companies in the index. Funds tracking the index will have to buy in, creating demand for $51 billion in shares, no doubt inflating the share price even more.

Scottish business confidence slips

A survey from ICAEW shows that business confidence in Scotland has fallen into negative territory, with the coronavirus crisis and Brexit uncertainty hitting firms. Half of businesses said customer demand presents a challenge, while a third said competition in the marketplace was an issue. Companies reported a decline in profits in the year to date, while the proportion flagging late payments as an issue is up compared to 2019. David Bond, ICAEW regional director for Scotland, said: “Businesses hope for a better year ahead, but any new lockdown measures could clearly have an impact on a recovery.”

Scottish retail sales slip

The latest monthly monitor from the Scottish Retail Consortium (SRC) and KPMG shows that total retail sales in Scotland decreased by 8.5% last month compared with October 2019.

Shell paid no corporation tax in Britain

Anglo-Dutch oil firm Royal Dutch Shell paid no corporation tax in Britain last year, although it paid $7.8bn in corporate income tax and $5.9bn in royalties in other jurisdictions, having seen pre-tax profit of $25.5bn. Analysis shows that the UK gave Shell $116m as oil companies can claim tax relief to help offset costs related to decommissioning oil wells, either deducting costs or claiming back duties they have previously paid.

Tax reform possible as UK looks to foot virus bill

Kate Hughes in the Independent looks at possible measures policymakers might consider as the country looks to balance the books in the wake of the coronavirus crisis, noting that the Office of Tax Simplification has suggested changes to capital gains tax (CGT). Describing the news as “ominous”, she says it could potentially mean heirs face double taxation through CGT and inheritance tax (IHT). Graham Boar at UHY Hacker Young suggests the proposed changes are “designed to increase tax revenue and add complexity rather than simplify CGT”, adding: “They would also create some huge winners and losers.” Lesley Davis of law firm Shakespeare Martineau says CGT and IHT are “easy hits, as exemptions can simply be withdrawn or removed” but warns that “doing this leaves the taxpayer fully exposed.” Ms Hughes also suggests pension tax relief could be an area with potential fo r reform.

FRC warns over cash flow mistakes

The accountancy industry has been criticised by the Financial Reporting Council (FRC) after basic errors were uncovered in cash flow statements. The watchdog said it continues to identify errors in statements, prompting it to publish a review detailing many of the issues faced in their preparation and providing information on how cash flow statements can be improved. FRC executive director of supervision David Rule said: “It is frustrating that we continue to identify basic errors in relation to cash flow planning which, in most cases, were easily identifiable from a desktop review of the financial statements.” He added that the FRC expects companies to perform “robust pre-issuance reviews” to ensure cash flow statements and related notes comply with regulatory requirements and are free from errors. The review also looks into the disclosure of liquidity risk, noting the relevance of the issue during t he coronavirus pandemic and the effect it is having on businesses. Although it says liquidity risk disclosures have improved, the FRC adds there are still improvements to be made.

HMRC in scam warning

HMRC has warned people to be wary of scammers trying to take advantage of the annual tax return deadline, saying fraudsters often pretend to be from the Revenue to contact victims. With the January 31 deadline on the horizon, HMRC has warned consumers that they may be targeted by fake tax rebate or tax refund scams. Figures show that officials responded to more than 846,000 referrals of suspicious HMRC contact from the public in the last year, as well as 15,500 malicious web pages and over 500,000 cases of bogus tax rebate services.

Don’t let Covid-19 bust your business!

It will if your cash flow dries up, either sooner or later.

The Credit Protection Association (CPA) has been assisting thousands of UK businesses to get paid since 1914. We have seen many financial crises, this one will be particularly deadly for suppliers for sometime to come.

CPA eases cash from tardy debtors – Efficiently, Effectively, Economically and Ethically. Above all tactfully, because maintenance of goodwill is paramount.

To meet the needs of creditors in the current crisis, we have designed a “critical care” package especially tailored for the situation.

  • The annual package costs start at very low rates
  • A minimum performance warranty is provided
  • Several complimentary services included

Clients instruct CPA on-line via their PC or phone, completely user-friendly. Your late paying customers are told to pay you direct (not to us).

A very recent report shows a 23% increase in the number of unpaid invoices since March 11th THIS YEAR – are you getting a build-up of late payers?

Right now, overdue accounts must be a concern and CPA has a great track record of encouraging slow-payers to pay their suppliers quickly.

It takes less than 17 minutes to see how you would benefit, do you have the time now?

No face-to-face meeting required – just call Peter Uwins, CPA’s National Sales Manager, on 020 8846 0000 (business hours) or email nsm@cpa.co.uk today.

When you see your money come in, you will be so glad you used CPA.

Do you sell on credit?

With pressures on the cash flow it is essential that you stay on top of the credit limits you grant customers and watch carefully for any late payments.

Those customers will look for the easiest option to boost their cash-flow. Don’t let it be you.

You can’t just assume your customers can and will pay you eventually, no matter how big their name is.

It is essential to have credit management systems in place to monitor and check your customers credit worthiness.

It is also best practice to use a trusted third party like CPA to make sure you are paid on time by customers, no matter how good a name they have.

About CPA

The Credit Protection Association can help!

Formed in 1914, CPA has been providing credit management services to SMEs for over 100 years.

At the Credit Protection Association, we provide first class credit information that can help you avoid being over extended to customers who are at risk. Our monitoring service can flag up warning signs long before the end, giving you the chance to adjust and reduce your exposure. We provide recommended credit limits and credit scores on a traffic light system and can help you set appropriate credit policies for your customers.

We regularly publish lists of the latest insolvencies but by then it is too late. Our credit reports however predict approximately 96% of company insolvencies long before they arrive.

Companies in trouble usually have very bad cash flow and they try to deal with it by delaying payment to their suppliers, increasing your exposure to them.

If you supply on credit, help us help you identify the risks.

Why use a third party collector?

As a third party collector, we can also get your payments prioritised over those who are not as hot on collections. When your customer receives a letter from the Credit Protection Association regarding their outstanding account, they are going to want to get that resolved as a priority. Our overdue account recovery service can get your unpaid invoices to the top of their “to do” list and get your invoice paid.

Over the years we have collected billions in overdue invoices for our customers.

Our debt recovery and credit management services give our members the financial freedom needed to grow and prosper, while our new Late Payment Compensation department could unlock hidden potential and offer the compensation needed to springboard your business to success.

You might be hesitant about contacting a debt collection agency. What are they going to be like?

Can they help your particular type of business?

There is no need for concern. CPA are courteous, helpful and very probably have had direct experience of working with your type of business.

Debt collection agencies are not all alike.

Success lies in both recovering money and keeping customers happy. The Credit Protection Association was founded in 1914 and has helped tens of thousands of UK businesses to collect outstanding payments and reduce the risk of incurring bad debt. We believe that creditors deserve to be paid for the work or goods they have supplied but we fully understand the need to maintain
the best possible relationship with customers!

At The Credit Protection Association, we provide solutions, advice and back-up in all areas relating to the supply of services or goods on account. Client-members receive everything they need from a single source to reduce debtor days and write-offs.

The Credit Protection Association has helped has assisted tens of thousands of UK businesses with their credit control requirements, since the First World War.

We are polite, firm and efficient when it comes to recovering outstanding debt.

“We have used CPA for a number of years now. The website is easy to navigate around with lots of helpful reports. The staff are always at hand and very friendly. CPA has helped us reduce our debt over the years and keep track of potential issues with our customers.”
~ CPA client in Buckinghamshire

“The service from CPA has proved to be everything that you said it would be. We have already seen a huge benefit. We have had a number of overdue accounts paid promptly and directly to us. It is also a huge weight off our mind to know that once we have passed an overdue payment over to you, you take care of everything whilst keeping us informed.
~ Credit Controller client in Warrington

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections


Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

CPA is passionate about late payment

The Credit Protection Association has been protecting smaller firms against poor payment practices for over 100 years.

We are extremely passionate about breaking the late payment culture that holds back the UK economy and threatens many SMEs, with cash flow difficulties being the single biggest killer of Britain’s small businesses.

If you were regularly paid late we can help. Those former customers used you to boost their own cashflow, regularly paying you late.

As a result you had extra costs, you had the distraction of having to chase payment, you had opportunity costs because your capital was tied up in their late invoices.

Under little used legislation, you are entitled to compensation for those late payments.

You put up with the PAIN – now claim the GAIN!

Now you can boost your own cash-flow.

CPA can help unearth the those hidden treasures.

We have the technology to reveal the compensation you are due and we have the extensive experience and expertise to then turn those claims into cash.

Did you know that your business is entitled to a minimum of £40 for every commercial invoice paid late to you over the past 6 years?

How many of your invoices are paid late each month – 20, 50, 100 or more?

At £40 per invoice that’s claim of £57,600, £144,000, £288,000 plus interest. The more invoices the bigger the claim! 

At £100 per invoice it’s £144,000, £360,000, £720,000 plus interest.

Discover NOW the potential value of late payment compensation hidden in your sales ledger!

For over 20 years, CPA has calculated and recovered Late Payment Compensation on behalf of Clients!  

Yes, CPA can help you boost your business cash-flow.

Don’t let your bankers control you, contact CPA today.

Discover NOW the potential value of late payment compensation hidden in your sales ledger!

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.

Read our blog here on how to crack down on the late payment culture.

Read our blog here on how to give late payers the slap they need.

The “Why” of the late payment culture.

New PM should walk the walk and back small firms over late payments

Paying late is “crack cocaine” to big business.

Late payment culture risks “spiraling out of control”

visit our late payment compensation page

See our full blog and FAQ on late payment compensation

Do you realise you could be sitting on a fortune?

Late payments often result in a cash flow crunch and leave SMEs in need of a cash injection.

If you sold B2B on credit then there may be a hidden source of capital you can call on.

If you fancy an extra bit of extra cash in your business, rather than jumping through hoops with your bank, you could look to uncover the resources from an unexpected source within your own business.

Not many are aware but there could be a hidden fortune within your business, sitting there, just waiting to be uncovered and released.

We can help you uncover the pile of gold, you didn’t even know you were sitting on.

If you trade with other businesses and were often paid late then you could be entitled to significant compensation.

Under little known and under-utilised legislation your business could be due huge amounts in compensation that you didn’t even know about.

Let’s be clear – this is not a way to weaken any customer relationships you value. It is one that identifies who’s been paying late and then recover the potentially significant sums in compensation using Late Payment Legislation from businesses where the relationship has already ended.

You can pick and choose who you want us to follow up – but once we’ve agreed which companies you’d like to pursue compensation from it’s a fast process and there’s no financial outlay to you whatsoever. My team at CPA put its expertise to work to recover the compensation due and fight late payment culture.

That compensation could provide the cash boost your business needed.

But don’t delay, that compensation evaporates if not claimed within six years of the late payment.

How can CPA help?

CPA has developed a unique technology to dig into your accounting records and discover the cash injection you are due by means of compensation. The software does all the hard work. Our software interacts over the cloud with over 300 different software packages, working directly with your accounts package, just so long as it’s stored on a computer.

We recognise that most companies do not have the resources to spend time on the identification and calculation of Late Payment Compensation. Our service can produce an Analyses within just a few days with (usually) less than 30 mins of co-operation from our clients. We work directly with over 300 accounting packages but can also work with bespoke accounts packages. Indeed, speed is essential as the oldest invoices may fall foul of the 6-year time limit.

Once the Sales Ledger Analyses is made available to clients, all that is required is that management decide which commercially sensitive ex-customers to remove from the list and return it to us.

CPA then uses its years of collection experience to explain and recover the Late Payment Compensation Claims. Clients do not handle any part of the recovery process as our team will take all communications from the companies against who the claims has been made. Often, it’s simply a case of explaining the legislation, sometimes we have to go all the way and enforce the legislation through the courts.

The result is that we are realising clients’ claims worth tens and sometimes hundreds of thousands of pounds which, of course, is pure net profit. You may also be among the recipients of “hundreds of thousands of pounds” should you elect to take advantage of our services.

We do the work, you receive the cash.

If you have supplied goods and services to businesses on credit and were regularly paid late then you could be due significant sums in late payment compensation.

We are talking to companies and unearthing claims in the hundreds of thousands from former business customers who paid them late. Large business customers who abused their power to inflict unfair and sometimes illegal payment practices.

We are helping business owners who are looking to boost the returns from their business before they retire. We are helping businesses who have lost major clients after years of loyal service to get properly compensated for systematic late payment. We are helping companies that were looking to close down, who looked insolvent and finding that cash injection they need to avoid insolvency.

Those former clients who regularly paid you late can finally be made to pay.

Ready to speak to an advisor?

For help or advice on credit management, entirely without obligation.

Call us today

0330 053 9263

The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!

The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.

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The Credit Protection Association – Prompting Punctual Payments – Ethical, Effective, Efficient, Economical collections.