PARLIAMENTARY WRITTEN QUESTION
Business: Loans (20 July 2021)

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.

Asked by:
Kirsty Blackman (Scottish National Party)

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.

Answered by:
John Glen (Conservative)
6 September 2021