Lending to Small Businesses

Part of Oral Answers to Questions — Treasury – in the House of Commons on 9th April 2019.

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Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Loans of less than £25,000 to the smallest businesses are already regulated under the Financial Services and Markets Act 2000. The Government are committed to regulating only where there is a clear case for doing so, to avoid putting additional costs on lenders and businesses, and the Government welcome the recent expansion of the Financial Ombudsman Service and the establishment of a voluntary dispute resolution service.