Business: Loans

Business, Innovation and Skills written question – answered on 4th March 2014.

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Photo of Jim Shannon Jim Shannon Shadow DUP Spokesperson (Health), Shadow DUP Spokesperson (Transport), Shadow DUP Spokesperson (Human Rights)

To ask the Secretary of State for Business, Innovation and Skills what discussions he has had with banks and payday loan companies on measures to ensure that small and medium-sized businesses are not penalised for repaying loans early.

Photo of Sajid Javid Sajid Javid The Financial Secretary to the Treasury

I have been asked to reply on behalf of the Treasury.

Government Ministers and officials meet with a wide range of organisations as part of the usual policy making process.

Decisions about whether to lend to specific individuals or businesses including repayment terms and conditions remain commercial decisions for providers of credit.

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