Ed Miliband responds to reports that Rishi Sunak is preparing to offer 100% guarantees on small business loans

Ed Miliband MP, Shadow Business Secretary, responding to reports that the Chancellor Rishi Sunak is preparing to offer 100% guarantees on small business loans, said:

“Two weeks ago Labour called for the Government to urgently look at 100% underwriting of loans and simplified lending criteria. Its resistance to this does not make economic sense for our SMEs or for the country. It appears there is a glimmer of light that the Chancellor might change course.  

“But every day that is wasted increases the risk of SMEs going to the wall.”

Ends

Notes to editors

·       Rishi Sunak prepares to offer 100% guarantees on small business loans: https://www.ft.com/content/be371033-0a75-4340-a2f6-b4d4d952d479