Retail Businesses: Financial Support Debate
Full Debate: Read Full DebateBaroness Burt of Solihull
Main Page: Baroness Burt of Solihull (Liberal Democrat - Life peer)Department Debates - View all Baroness Burt of Solihull's debates with the Department for Business, Energy and Industrial Strategy
(3 years, 11 months ago)
Lords ChamberThe noble Lord makes a good point. We are urgently considering the need to extend these measures and will announce a decision shortly.
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?
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.