My right hon. Friend the Secretary of State has had discussions with the Chancellor on building the Government’s industrial strategy, which includes ensuring that businesses can access the finance they need. We already help businesses through the business finance and support finder on gov.uk, and we recently launched the finance platforms service, which offers small and medium-sized enterprises that have had finance rejected by the large banks the option of a referral to alternative finance providers.
With many new online alternative finance companies springing up across the UK, what is my hon. Friend doing, first, to ensure that our small and medium-sized enterprises know about these alternative ways of accessing finance, and, secondly, to give them the confidence to borrow from such organisations?
The British Business Bank has created the business finance guide, which is widely distributed and offers comprehensive information about the financing options available to businesses, including alternative sources of finance. The Financial Conduct Authority regulates peer-to-peer lending platforms and is currently reviewing its regulatory regime to ensure that it is robust and up to date.
What assessment has the Minister made of the impact of bank closures in town centres on the availability of business finance, to ensure that those such as my local one in Holywell, which is potentially losing three banks this year, will still have access to business finance and will still be positive town centres?
I call Mike Freer. He is not here. We will take the last question on the condition that we have a reasonably short, single sentence supplementary, as I want to move on to the main business promptly today. If it is a long question, we will not bother.
A single short sentence is required.