Coronavirus Business Interruption Loan Scheme Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Baroness Burt of Solihull
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Coronavirus Business Interruption Loan Scheme
Baroness Burt of Solihull Excerpts(4 years, 6 months ago)
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Lord Callanan
Small breweries are a subject close to many of our hearts. We are responding rapidly to feedback to ensure that all eligible businesses, including breweries, can feel the full benefit of support that is available through the package. I would be very happy to join the noble Lord in meeting representatives if that is required.
Baroness Burt of Solihull (LD)
I do not expect the Minister to agree with me but it seems to the business community that the business interruption loan scheme has largely failed SMEs because the banks were not prepared to take the risk. Now, the Government are taking the risk with taxpayers’ money through the bounce-back scheme but small businesses applying for a bounce-back loan are still expected to take the full risk, which many are hesitant to do. What difference to take-up do the Government estimate that the introduction of the bounce-back scheme will make?