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Companies: Finance

Treasury written question – answered on 29th June 2020.

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Photo of Mark Menzies Mark Menzies Conservative, Fylde

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of establishing a dedicated long-term supply chain investment fund to support UK supply chain companies.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Ensuring that healthy businesses, especially SMEs, have enough working capital will be vital to our economic recovery. That is why the government has introduced a range of interventions to support firms directly. Including the Coronavirus Business Interruption Loan (CBILS) and the Bounce Back Loan Scheme (BBLS), both of which target SMEs specifically. As of 21 June, over 920,000 facilities with a value of around £26bn and over 50,000 facilities worth £10.5bn have been approved under BBLS and CBILS respectively.

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