Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what progress has been made in the wider pilot of the No Interest Loan Scheme.

Progress on the pilot of the No-Interest Loan Scheme is good and over 60 no-interest loans have now been issued at the proof-of-concept site in South Manchester, providing real world impact for recipients.

Fair4All Finance (who are delivering the scheme) are now finalising contracts with the lenders chosen to take part in the wider pilot and the government expect three pilot locations to have started lending by the end of November and a further pilot location to start lending in January, so that full-scale rollout will have commenced by early 2023. Fair4All Finance expects to deliver tens of thousands of no-interest loans over the course of the pilot.