Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of the potential merits of the British Business Bank being required to set higher standards for lenders than the statutory minimum because public money is at stake.

Lenders accredited to deliver the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme are subject to the terms of Guarantee Agreements, which they must abide by to be eligible to make a claim under the Government guarantee.

The recovery principles outlined in these agreements are no less stringent than those applied to standard commercial lending.