Question to the Department for Business, Innovation, Science and Trade:

To ask the Secretary of State for Business, Innovation, Science and Trade, what assessment he has made of expanding the remit of the Community Finance Taskforce to support Community Development Finance Institutions providing personal lending.

The Community Finance Taskforce was established with a specific aim of supporting additional lending to SMEs from Community Development Finance Institutions (CDFIs). The Taskforce builds on existing cooperation between banks and community lenders and the British Business Bank’s Community ENABLE Funding programme, which seeks to increase CDFI capacity for SME lending.

The Taskforce has been asked to focus on developing a roadmap for the SME community lending sector. There are therefore currently no plans to expand the remit to cover personal lending.