PARLIAMENTARY WRITTEN QUESTION
Business: Coronavirus (15 September 2020)

To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate he has made of the number of businesses unable to repay debt resulting from the effects of the covid-19 outbreak.

Asked by:
Kevin Hollinrake (Conservative)

The Government will continue to work closely with local authorities, businesses, and business representative organisations to understand the impact of Covid-19 on businesses. This will include consideration of how payments for deferred VAT and loan repayments will impact businesses from March 2021.

We are developing a consistent industry-wide approach to the collections and recoveries of Bounce Back loans. This will ensure that lenders understand the full range of support they can provide to borrowers struggling to repay their loans.

Answered by:
Paul Scully (Conservative)
23 September 2020