Business: Loans

(asked on 20th July 2021) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the (a) costs and (b) risks to UK businesses of Government covid-19 loans from banks and other authorised lenders.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 6th September 2021

The government guarantee loan schemes have provided a lifeline to thousands of businesses, supporting over £79 billion in funding. There are robust rules in place that set out how accredited lenders must behave, including treating borrowers fairly.

The government has always been clear that these are loans to be repaid, and that they may not be the right answer for all businesses. That’s why our varied package of support also includes grant funding and tax deferrals.

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