Business, Energy and Industrial Strategy

Thursday 12th November 2020 Ministerial Corrections

Coronavirus Business Interruption Loan Scheme

The following is an extract from the debate on the coronavirus business interruption loan scheme on 5 November 2020.

[Nadhim Zahawi]

The Government acknowledge that access to debt finance is important, but it can only form part of our approach to supporting businesses through this period. We have already provided the devolved Administrations with unprecedented up-front funding guarantees, so that they have the certainty they need to decide how and when to provide support. The funding guarantees to the Scottish Government are worth £7.2 billion, to the Welsh Government £4.4 billion, and to Northern Ireland £2.4 billion.

[Official Report, 5 November 2020, Vol. 683, c. 559.]

Letter of correction from the Under-Secretary of State for Business, Energy and Industrial Strategy, the hon. Member for Stratford-on-Avon (Nadhim Zahawi):

An error has been identified in my response to the hon. Member for Midlothian (Owen Thompson).

The correct response should have been:

[Nadhim Zahawi]

The Government acknowledge that access to debt finance is important, but it can only form part of our approach to supporting businesses through this period. We have already provided the devolved Administrations with unprecedented up-front funding guarantees, so that they have the certainty they need to decide how and when to provide support. The funding guarantees to the Scottish Government are worth £8.2 billion, to the Welsh Government £5 billion, and to Northern Ireland £2.8 billion.