Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 July 2021 to Question 33130, if he will hold discussions with the British Business Bank to help ensure that the standard terms and eligibility criteria support UK nations and regions to access investment support.

The government is committed to ensuring that small and medium sized enterprises can access the finance they need, across the UK, including through the programmes of the British Business Bank (BBB). One of the BBB’s objectives is to identify and help to reduce imbalances in access to finance for smaller businesses across the UK, including through its specific regional programmes. HM Treasury regularly engages with the British Business Bank on its activities in support of its objectives.

At Autumn Budget and Spending Review 2021, the Chancellor announced over £1.6 billion for the British Business Bank’s regional funds to expand these funds into the North East and South West of England, to set up new funds in Scotland and Wales and to build on its existing programmes in Northern Ireland. In addition, the Chancellor announced a further £150m to the BBB’s Regional Angels Programme.