Bank Services: Small Businesses

Department for Business, Energy and Industrial Strategy written question – answered on 2nd February 2018.

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Photo of Bill Esterson Bill Esterson Shadow Minister (Business, Energy and Industrial Strategy), Shadow Minister (International Trade)

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to his oral contribution of 30 January 2018, on Carillion, what steps he plans to take to ensure the banks meet the commitments they made on financial support for small business suppliers to Carillion.

Photo of Andrew Griffiths Andrew Griffiths Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

UK Finance have made it clear that the High Street Lenders are contacting customers and are prepared to have emergency measures, including overdraft extensions, payment holidays and fee waivers in place as long as needed to support the small business suppliers to Carillion.

Details about the financial support committed by high street lenders can be found at: https://www.ukfinance.org.uk/banks-offer-support-to-business-customers-impacted-by-carillion/

BEIS officials and I are in regular contact with UK Finance.

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