, Chair of the Business,
Energy and Industrial Strategy Committee has commented on the
announced changes to business interruption loans and on her
letter [dated 2nd April] to , Chancellor of the Exchequer, outlining a series
of areas where action is needed to ensure Government support gets
to the businesses, workers and self-employed people that need it.
, Chair of the Business,
Energy and Industrial Strategy Committee said:
“The Chancellor's moves today to widen access to loans for
small- and medium-sized businesses impacted by coronavirus
are welcome. Progress is being made but when less than a
1,000 businesses have had finance approved so far it is
clear that support needs to be ramped up quickly.
“Banks need to be held to account on delivery. The
Government should require lenders to come forward with
weekly updates on the number and value of loans that have
been approved, so that we can be sure the scheme is getting
funds to those who need it.
“The Chancellor’s announcements on a range of Government
measures for businesses, workers, and the self-employed
have been very welcome and helped reassure people across
the country about the safety of their jobs and livelihoods.
But, it is crucial that these measures deliver as intended,
ensuring nobody is left behind, that workers can keep their
heads above water, and that the UK emerges out of this
crisis with businesses that can prosper and help deliver an
economy that can grow.
“I hope the Chancellor will quickly come forward with the
right remedies to fix these gaps and ensure that support
gets to the businesses and workers across the country who
so desperately need it.”
