Retail Businesses: Financial Support

Baroness Burt of Solihull Excerpts

Monday 21st September 2020 Lords Chamber

[Lord Callanan (Con)]

The noble Lord makes a good point. We are urgently considering the need to extend these measures and will announce a decision shortly.

[Baroness Burt of Solihull (LD)]

My Lords, that is very good news from the Minister. While we welcome the changes to the temporary framework and the definition of “undertakings in difficulty” earlier this year, the fact is that some small businesses are still falling through the cracks. What further work are the Government doing to ensure that businesses acutely impacted by Covid—especially retail—can access the finance they need to make it through?

[Lord Callanan (Con)]

I would hope that, through the changes we have announced, the vast majority of small businesses are able to access the finance they need, but of course, we keep these matters under constant review. We are aware that the schemes were put together very quickly, and there will always be some businesses that fall through the cracks, but the Chancellor is looking at these matters urgently.