Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Business: Government Assistance

Treasury written question – answered on 15th October 2012.

Alert me about debates like this

Photo of Chuka Umunna Chuka Umunna Shadow Secretary of State for Business, Innovation and Skills

To ask the Chancellor of the Exchequer

(1) pursuant to the answer of 17 July 2012, Official Report, column 672W, on business: government assistance, what funds are being allocated under the Business Finance Partnership by stage of allocation;

(2) what proportion of the funding allocated under the Business Finance Partnership has been drawn down by end recipients.

Photo of Greg Clark Greg Clark The Financial Secretary to the Treasury

holding answer 17 September 2012

£1.2 billion has been allocated to the Business Finance Partnership. HM Treasury will be investing £700 million this autumn in funds that lend to mid-sized businesses, following the receipt of bids earlier in the year and subsequent due diligence to select the strongest candidates. The Department for Business, Innovation and Skills will invest a further £100 million in non-traditional lending channels such as peer-to-peer lenders and supply chain finance, also this autumn. Bidding for the remaining £400 million closed in July and assessment of these bids is currently under way.

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.