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 Gill Furniss Gill Furniss Shadow Minister (Business, Energy and Industrial Strategy) (Steel, Postal Affairs and Consumer Protection)

A succession of small business lending scandals has come to light in recent months, including from Clydesdale, the Global Restructuring Group and HBOS. This has highlighted that small businesses are still struggling to get fair access to finance. Last week, Labour set out our proposals to fix this, including plans to set up a post bank that would offer relationship banking for small businesses to improve their access to finance. Will the Minister support Labour’s proposition for a publically owned postal bank that will provide trustworthy finance for small businesses?