Small Businesses: Finance

Treasury written question – answered on 20th September 2021.

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Photo of Stephen Farry Stephen Farry Alliance, North Down

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the Bank of England's Term Funding Scheme for SMEs beyond it's planned expiry date of October 2021.

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

Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England and this includes decisions on Bank Rate and quantitative easing. The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy, so the Government does not comment on the conduct or effectiveness of monetary policy.

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