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Coronavirus Business Interruption Loan Scheme - Question

Part of the debate – in the House of Lords at 11:24 am on 12th May 2020.

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Photo of Baroness Drake Baroness Drake Labour 11:24 am, 12th May 2020

My Lords, the Government have to ease people back to work safely, increase the flow of funding to SMEs and avoid scarring unemployment. SMEs employ 60% of private sector workers, and many are now critically dependent on both government-backed loans and job retention schemes. Withdrawing these measures too soon when their very purpose is to keep jobs and businesses going will undermine them. When will the Government publish their road map for phasing out the CBILS and job retention schemes, and what impact will that have on structural employment and the longer-term stimulus package for SMEs?