Oral Answers to Questions

Debate between Stuart Anderson and Paul Scully

Tuesday 16th June 2020 Commons Chamber

[Paul Scully]

I pay tribute to my right hon. Friend for the work that he has done with small businesses for many years, including when we were working with businesses together. I know that he continues that work. As part of the package of covid-19 recovery measures we created the bounce-back loans scheme, which targets small and microbusinesses in all sectors, providing loans from £2,000 up to 25% of the business’s turnover, with a maximum loan of £50,000. Applications are done via a simple online form. As of 7 June, 782,246 loans, worth £23.78 billion, have been approved.

[Stuart Anderson (Wolverhampton South West) (Con)]

What steps he is taking to support independent pubs during the covid-19 outbreak.