17
Deferred
Recovery Loan Scheme successful, with welcome extension and rebranding to Growth Guarantee Scheme.
Conclusion
The Recovery Loan Scheme appears to have been successful in supporting SMEs with access to finance throughout the pandemic and beyond. We welcome HM Treasury’s decision to extend and rebrand it into a “Growth Guarantee Scheme”, which can provide support to many more businesses seeking to access finance in the coming years.
Government Response Summary
The government responded with a general statement about the importance of banking services and financial inclusion, rather than directly acknowledging the Committee's welcome for the new Growth Guarantee Scheme.
Paragraph Reference
95
Government Response
Deferred
Government Response
Deferred
HM Government
Deferred
19. Banking services fulfil a vital role in the lives of millions of people and businesses across the UK, and the Government is committed to ensuring high standards of protection and financial inclusion across the financial services sector.
Source
Committee
Treasury Committee
Inquiry
SME Finance
Report
Eighth Report - SME Finance
08 May 2024
HC 27
Addressee Bodies
HM Treasury
Timeline
Recommendation age
2.1 yrs
Report published
08 May 2024