Anneliese Dodds, responds to the Bank of England’s latest Financial Stability Report

“Small businesses are the backbone of our economy. They have been hit hardest by the pandemic, and now face a huge cashflow problem. Many have already taken on significant debt just to make it through. Today’s report shows they face a worrying future.

“Labour has repeatedly called on the Government to set out a plan for rebuilding business and tackling high levels of corporate debt. Without that, we risk rising insolvencies and yet more job losses.

“The Government needs to do the responsible thing and act now to help our small businesses.”