Bounce Back Loan Scheme

Department for Business, Energy and Industrial Strategy written question – answered on 1st March 2021.

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Photo of Ed Miliband Ed Miliband Shadow Secretary of State for Business, Energy and Industrial Strategy

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment his Department has made of the effect of the Pay As You Grow scheme on loss rates from the Bounce Back Loan Scheme.

Photo of Paul Scully Paul Scully Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy), Minister of State (London)

The Pay As You Grow measures give Bounce Back Loan borrowers more time and greater flexibility to repay their loans.

Work is currently underway with data scientists, other Government departments and external consultants on a range of projects to develop our analysis on various datasets, in order to give us the best possible insight into the scheme.

The Department will report updated estimates of expected credit losses as part of its Annual Report and Accounts for 2020-21, to be published later this year.

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