Loans: Small Businesses

Treasury written question – answered on 20th October 2021.

Alert me about debates like this

Photo of William Wragg William Wragg Chair, Public Administration and Constitutional Affairs Committee, Chair, Public Administration and Constitutional Affairs Committee

To ask the Chancellor of the Exchequer, whether he has plans to extend the Term Funding Scheme to non-bank lenders to improve alternative financing options.

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

The Term Funding Scheme (TFS) is a monetary policy tool of the independent Monetary Policy Committee (MPC) of the Bank of England. Therefore, it is not appropriate for the Government to comment on its conduct or effectiveness.

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.

We will continue to work with non-bank lenders to support their participation in the new Recovery Loan scheme following the closure of the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), and the Bounce Back Loan Scheme (BBLS).

Does this answer the above question?

Yes0 people think so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.