Mel Stride comments on Chancellor’s announcement of Bounce Back Loans

Commenting on the Chancellor’s announcement today of the new Bounce Back Loans, Rt Hon. Mel Stride MP, Chair of the Treasury Committee, said:

“The Treasury Committee continues to receive evidence that some the Government’s schemes to help businesses get through this difficult time are too complex and too slow.

“I have called for Government to consider 100 per cent guarantees for smaller sized loans, so the introduction of Bounce Back Loans is extremely welcome.

“However, the success of the new scheme will still depend on the actions of lenders. It is essential, therefore, that there is full and regular transparency on the progress of this scheme in order to get this further vital lending out the door fast.”