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

To ask Her Majesty's Government what steps they are taking to ensure that businesses in the retail sector have access to finance.

My Rt. Hon. Friend Mr Chancellor of the Exchequer has announced a host of measures to help businesses access finance with £330 billion worth of government backed and guaranteed loans including:

A Coronavirus Business Interruption Loan Scheme (CBILS) which enables SMEs with a turnover of up to £45 million access vital financial support. The Chancellor has extended CBILS so that all viable businesses affected by COVID-19, and not just those unable to secure regular commercial financing, will now be eligible should they need finance to keep operating during this difficult time.

A Coronavirus Large Business Interruption Loan Scheme (CLBILS) providing finance to mid-sized and larger UK businesses with a group turnover of more than £45 million. We have increased the maximum amount available through CLBILS to a borrower and its group from £50 million to £200 million.

A Bounce Back Loans Scheme which provides loans of up to £50,000 to benefit small businesses with a 100% government-backed guarantee for lenders.