Lord Sharkey
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Finance: Loan Guarantee Scheme
Lord Sharkey Excerpts(11 years, 11 months ago)
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Lord Sassoon
I can confirm that the scheme will extend to the devolved Administrations.
Lord Sharkey
Is there anything about the design of the loan guarantee scheme that makes it more likely that funding to SMEs, particularly those in deprived areas, will increase?
Lord Sassoon
My Lords, the £40 billion infrastructure guarantee scheme is linked to nationally significant infrastructure projects. Typically, the promoters of those projects will not be SMEs, but of course there will be very many SMEs in the supply chain for the projects that will benefit. SMEs working in the public/private partnership space will also benefit from a possible £6 billion of additional loans that was also announced in this package, as will exporters, for whom a £5 billion export refinancing facility will be extended.